Inside Pigs
More pigs and rising prices in the US
The number of pigs kept in the United States has increased by 3% from the previous year. The counter stood at 1 million units on December 2019, 77,3. Pig prices are also on the rise.
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The latest figures from the United States Department of Agriculture (USDA) come as no surprise. Growth of 3% was also achieved in the previous quarter reported. The pig herd then reached 77,7 million head. Now the volume is slightly lower, but still well above that of 2018. This is the result of the continued expansion in the US pig farming industry, as the processing industry tries to meet demand forecasts.
Especially more pigs for slaughter
The number of pigs slaughtered rose to a record high last year. The counter stood at 70,9 million head at the beginning of December, an increase of 3% compared to 2018. The number of breeding pigs has increased 2% to 6,4 million animals. The number of piglets also reached a record high in the months September to November. This involved a total of 35,1 million piglets. The number of piglets is expected to continue to rise in the coming months.
More pork in storage
Due to the continued growth of the American pig herd, the country's pork stocks are currently high. The USDA reports that as of December 1, 2019, there were 574,7 million pounds of pork in cold storage. That is an increase of 13% compared to the previous year.
Meanwhile, pork prices in the US are developing positively. This is mainly due to growing optimism about sales to China, the world's largest pork consumer. China will reduce the price from 2020 import duty on American pork.
Due to the prevailing African swine fever in China, America expects to be able to export more pork to the country, with which the Chinese can compensate for a shortage. As a result, American pork prices have been on the rise since the end of November. The futures market is also reacting positively.