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2014 USDA March 1 Quarterly Hogs & Pigs Report suggesting hog supplies will be -4-5% in 14 vs. 13 but USDA overstating the numbers, this report is bearish as futures were factoring in a high drop in supplies but bullish for Grain Stocks Report on Monday March 31st, 2014!

MARCH 1 HOG INVENTORY

USDA ESTIMATE

(% VS. A YEAR AGO)

PRE REPORT AVERAGE ANALYST ESTIMATES 

(% VS. A YEAR AGO)

ANALYST RANGE OD ESTIMATES

ALL HOGS INVENTORY ON MARCH 1

97

94.6

92.0 – 97.1

KEPT FOR BREEDING

100

99.4

98.9 – 100.7

KEPT FOR MARKETING

96

94.1

96.2 – 96.9

DEC- FEB PIG CROP

97

96.4

90.8 - 101.4

DEC- FEB PIGS PER LITTER

95

96.4

92.9 - 99.8

DEC – FEB FARROWING INTENTIONS

103

100

97.8 – 101.3

MAR – MAY FARROWING INTENTIONS

102

100.5

98.6 – 102.0

JUNE – AUGUST FARROWING INTENTIONS

102

100.9

99.0 – 102.0

HOGS WEIGHING UNDER 50

96

93.5

87.7 – 98.9

HOGS WEIGHING 50 - 119

94

94.2

91.0 – 97.8

HOGS WEIGHING 120 - 179

97

94.1

92.3 – 98.1

HOGS WEIGHING 180 & OVER

95

95.2

93.9 – 97.3

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Call Josh if you would like to ask any pork marketing questions.

Thanks,

Moe Agostino

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