The finishing pig herd reached its lowest level since 2015 at 4.26 million HEAD, down 11.2% from last year. These figures confirm historically low hog slaughter figures for 2023. Year-to-date (January-November), net hog slaughter is 9.1% behind last year’s figures.
However, the total breeding pig herd was little changed, down just 0.2% from 2022 to 428,000 head. Within this category, there were various changes. The breeding sow herd was down 3.6% year-on-year, while the gilt herd was up a healthy 13.0%. The number of breeding boars was down 5.4% from last year, but the number of first-breeding gilts was up 6.5%.
The increase in gilts and first-breeding gilts indicates some improvement in sentiment in the industry, likely due to improved farm profitability. While some producers may be cautious about their growth, the industry is not expected to fully recover in the near future.