By Theopolis Waters
Sept 27 (Reuters) – The U.S. hog herd held steady in the latest quarter compared to a year earlier, and exceeded trade forecasts, a U.S. government report showed on Friday.
The data showed producers held a record number of pigs per litter during the period at 10.33 head, up about two percent compared with last summer’s record of 10.13 head.
Chicago Mercantile Exchange hog futures could open at least 0.500 to 1.000 cent lower on Monday based on Friday’s report, as most report numbers were higher than expected, analysts said.
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USDA showed the U.S. hog herd as of Sept. 1 at 100 percent of a year ago at 68.360 million head. Analysts, on average, expected 67.081 million head, or 98.4 percent of a year earlier. The U.S. hog herd for the same period last year was 68.172 million head.
The U.S. breeding herd was 100 percent of a year earlier at 5.814 million head, compared with average trade expectations for 101.5 percent, or 5.875 million. A year ago the breeding herd was 5.788 million head.
The Sept. 1 supply of market-ready hogs was 100 percent of a year earlier at 62.546 million head. Analysts, on average, expected a 1.9 percent decline, or 61.199 million. Last summer’s market hog supply was 62.384 million.
