USDA reports fractional increase in Market Hog Supplies – 6/29/2023

The USDA’s June 1,2023 survey found US market hog supplies up less than 1% year over year. Barring a major data error market hog slaughter during the second half of 2023 will be about equal to that of 2022. A hogs process forecast model based on original market hog data (before adjustments) has an R2 of 97% & a standard error of about one million head. June 2023 hog slaughter  was very close to that of a year ago, confirming the USDA’ census estimate for hogs weighing more than 180 pounds on June 1.