# U.S. hog inventory on par; Now look towards trade vs. futures

> USDA's Quarterly Hogs and Pigs report showed the U.S. hog inventory up 3% from 2017 to 75.5 million as of Sept. 1, including a 6.33 million breeding herd. Market hogs were 69.2 million, up 2.9%, and June-August pig weaning rose 3%.

- Date: 2018-09-28 · published 2018-09-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/63174-u-s-hog-inventory-on-par-now-look-towards-trade-vs-futures
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Meat & Bone Meal](https://feedsoft.ai/c/MBM.md)

## Why it matters

A larger hog supply points to heavier pork output ahead, which weighs on hog prices unless export demand absorbs it. Analysts say exports of about 22% of production will be the key price driver into 2019.

## Read by commodity

- MBM: neutral
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2016-07-27 | [U.S. livestock: CME hog futures biggest one-day loss in seven months - Country Guide](https://feedsoft.ai/events/11075-u-s-livestock-cme-hog-futures-biggest-one-day-loss-in-seven-months-country-guide.md) | -5.7% | -14.9% |
| HOGS | 2018-06-28 | [U.S. livestock: Hog futures higher on spreading - Grainews](https://feedsoft.ai/events/64667-u-s-livestock-hog-futures-higher-on-spreading-grainews.md) | +1.0% | -15.1% |
| HOGS | 2022-09-12 | [CME lean hog futures weaken, USDA lowers 2022 price outlook](https://feedsoft.ai/events/39741-cme-lean-hog-futures-weaken-usda-lowers-2022-price-outlook.md) | +1.7% | -2.8% |
| HOGS | 2023-10-01 | [Hefty hog inventory numbers could weigh on market](https://feedsoft.ai/events/34267-hefty-hog-inventory-numbers-could-weigh-on-market.md) | -0.2% | -10.7% |

## Sources

- nationalhogfarmer.com: https://www.nationalhogfarmer.com/market-reports/u-s-hog-inventory-on-par-now-look-towards-trade-vs-futures

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