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Austin Schroeder at Barchart.com said “After revising the September 1 inventory down 385,000 head, this afternoon’s quarterly Hogs & Pigs report showed the December 1 inventory at 75.845 million head, a 0.51% increase from last year and above estimates. Hogs kept for breeding was up just 5000 head at 6.004 million, in line with the trade, as market hogs were up 0.514% at 68.841 million head, above the +0.1% estimate. The September to November pig crop was up 2.03% at 35.238 million head, as the pigs per litter were up 2.2% at 11.92 ppl. Farrowing intentions for Dec-Feb are up 0.03% at 2.93 million head, with the March-May period up 1.37% at 2.953 million head.”
