The latest USDA Hogs and Pigs Report indicates bearish market conditions. Total inventory of animals is up compared to the previous report. Bernt Nelson, an economist with the American Farm Bureau Federation, said the latest report contained some big numbers.
On the other side of production, pigs retained for breeding decreased this quarter, down to the lowest breeding herd level in a decade. Nelson said several factors are influencing those numbers.
Nelson added that, fortunately, consumers may see some good news when it comes to prices at the meat counter this summer.
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