# Pig outlook: Lean hog futures bulls gain still more power
						 | The Pig Site

> USDA estimated the US hog herd up 0.1% year-on-year as of June 1, above the trade's expected 0.7% decline. Lean hog futures rallied, with the CME lean hog index at $94.31 amid a seasonal cash price advance. China's state planner also warned that hog prices had entered a critical zone and planned a second round of state pork purchases.

- Date: 2023-07-06 · published 2023-07-06T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/35028-pig-outlook-lean-hog-futures-bulls-gain-still-more-power-the-pig-site
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

A larger-than-expected US herd is mildly bearish for hog futures, but strong seasonal cash prices and Chinese state pork buying support prices, so the net outlook for feed demand is mixed.

## Read by commodity

- HOGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2022-12-30 | [Pig outlook: Lean hog futures bulls take technical control
						 \| The Pig Site](https://feedsoft.ai/events/38235-pig-outlook-lean-hog-futures-bulls-take-technical-control-the-pig-site.md) | -6.6% | -11.8% |
| HOGS | 2020-06-24 | [CME update: lean hog futures firm as cold storage supplies drop
						 \| The Pig Site](https://feedsoft.ai/events/52769-cme-update-lean-hog-futures-firm-as-cold-storage-supplies-drop-the-pig-site.md) | -3.2% | +8.3% |
| HOGS | 2026-06-29 | [Hog futures mixed as smaller-than-expected herd spurs buying - CME
						 \| The Pig Site](https://feedsoft.ai/events/18955-hog-futures-mixed-as-smaller-than-expected-herd-spurs-buying-cme-the-pig-site.md) | +0.6% | +8.7% |
| HOGS | 2025-09-29 | [US hog futures hit records on tighter herd supplies - CME
						 \| The Pig Site](https://feedsoft.ai/events/23028-us-hog-futures-hit-records-on-tighter-herd-supplies-cme-the-pig-site.md) | -2.4% | -15.1% |
| HOGS | 2021-09-27 | [Lean Hog and Pork Cutout Futures Surge After Hogs and Pigs Report - Pork Business](https://feedsoft.ai/events/45203-lean-hog-and-pork-cutout-futures-surge-after-hogs-and-pigs-report-pork-business.md) | +4.1% | -12.1% |

## Sources

- thepigsite.com: https://www.thepigsite.com/articles/pig-outlook-lean-hog-futures-bulls-gain-still-more-power

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.