# Hog prices make surprising recovery as U.S. herd shrinks | The Western Producer

> US Department of Agriculture data showed the breeding herd at the end of December was nearly 1% smaller than in September, and producers held back 6% fewer gilts than a year earlier. Hog futures for summer 2021 were about $84 per cwt, well above the prior year's level.

- Date: 2021-01-15 · published 2021-01-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/49306-hog-prices-make-surprising-recovery-as-u-s-herd-shrinks-the-western-producer
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

A smaller breeding herd and fewer gilts point to reduced future hog supplies, which supports higher lean hog prices. Lower hog numbers also reduce demand for feed grains and meal over time.

## Read by commodity

- HOGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2021-05-07 | [Supply squeeze lifts hog prices; herd recovery to lag: Rabobank](https://feedsoft.ai/events/47251-supply-squeeze-lifts-hog-prices-herd-recovery-to-lag-rabobank.md) | +1.3% | +6.4% |
| 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 | 2022-09-29 | [CME December hogs ease; U.S. hog herd shrinks \| Financial Post](https://feedsoft.ai/events/39742-cme-december-hogs-ease-u-s-hog-herd-shrinks-financial-post.md) | -0.2% | -1.3% |
| HOGS | 2026-02-18 | [Strong demand, tight supply push U.S. hog prices higher in 2026](https://feedsoft.ai/events/20747-strong-demand-tight-supply-push-u-s-hog-prices-higher-in-2026.md) | +2.8% | +3.5% |
| 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% |

## Sources

- producer.com: https://www.producer.com/news/hog-prices-make-surprising-recovery-as-u-s-herd-shrinks/

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