June Hog Inventory Down – 06/30/2022

USDA reported the nation’s hog herd was down 1% on a year over year basis on June 1. Hog producers have not shown much inclination to expand production despite record finished hog prices at farm level. High feed costs have reduced hog production profitability. 

We calculate potential hog slaughter  for the July 2022 through December 2022 period at  64.7 million head compared to 64.4 million head in the same period a year earlier.

The typical (using 1973 through 2021 data) seasonal price change would have December hogs trading between $72 and $91/cwt. during the July/November period.