Friday’s USDA quarterly Hog and Pigs data was generally good news for pork buyers with the total September 1st U.S. herd up 3.4 percent from 2018 and the swine breeding herd larger by 1.6 percent.

"This is the biggest in two decades," said David Maloni, ArrowStream economist. "Sure, the number of sows farrowing (think: birthing) during the next six months is expected to be below the previous year, but if strong pig-per-litter yield gains continue as noted in the chart, solid pork production growth should persist. And this could temper any price impact on any export demand surges."