Max Armstrong shares some insight on the Quarterly Hog and Pig report, which had some big numbers with inventory up 4%. Max explains that hog producers are losing on every animal they sell, at the rate of about $78 million per week. The challenge isn't just that farmers are increasing animal numbers but breeding efficiency is up too.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.