# Record hog and pig inventory forcing prices lower - High Plains Journal

> The USDA June Hogs and Pigs report showed the highest June 1 hog inventory since records began in 1964, at 73.5 million head, up 3 percent year over year. Pigs per litter reached a record 10.63, and the March-May pig crop was the largest for that period since 1970.

- Date: 2018-07-08 · published 2018-07-08T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/64198-record-hog-and-pig-inventory-forcing-prices-lower-high-plains-journal
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A record hog inventory and larger pig crop add heavy supply that will pressure hog prices into the fourth quarter. This report surprise is a major bearish fundamental for pork and related feed demand.

## Read by commodity

- SBM: neutral
- HOGS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2018-07-16 | 1 | -8.0% | -8.0 | The USDA June Hogs and Pigs report showed record inventory and litter rates, a bearish supply backdrop that had been feeding into prices, though it came out about a week before the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-04-06 | [Record pig herd and stymied demand hits hog prices](https://feedsoft.ai/events/53801-record-pig-herd-and-stymied-demand-hits-hog-prices.md) | -4.4% | +26.7% |
| HOGS | 2017-07-19 | [Higher US Hog Numbers Expected to Result in Lower Market Prices
						 \| The Pig Site](https://feedsoft.ai/events/4731-higher-us-hog-numbers-expected-to-result-in-lower-market-prices-the-pig-site.md) | -0.8% | -10.2% |
| HOGS | 2024-03-20 | [Latest WASDE report raises red meat, poultry production - High Plains Journal](https://feedsoft.ai/events/31165-latest-wasde-report-raises-red-meat-poultry-production-high-plains-journal.md) | -0.2% | +9.0% |
| HOGS | 2020-06-27 | [Hog futures lower following Hogs and Pigs report - Brownfield Ag News](https://feedsoft.ai/events/52770-hog-futures-lower-following-hogs-and-pigs-report-brownfield-ag-news.md) | -0.0% | +13.0% |
| HOGS | 2018-03-16 | [Lower prices signal pork sector recovery continues in China](https://feedsoft.ai/events/65975-lower-prices-signal-pork-sector-recovery-continues-in-china.md) | -5.1% | -16.0% |
| SBM | 2026-04-16 | [USDA report lowers 2026 poultry outlook - High Plains Journal](https://feedsoft.ai/events/19728-usda-report-lowers-2026-poultry-outlook-high-plains-journal.md) | -3.4% | +4.0% |
| SBM | 2025-10-01 | [Grains Lower After USDA Stocks Report - ADM Investor Services](https://feedsoft.ai/events/22333-grains-lower-after-usda-stocks-report-adm-investor-services.md) | +1.4% | +16.1% |
| SBM | 2019-05-23 | [Pork producers expected to respond to high international prices](https://feedsoft.ai/events/59213-pork-producers-expected-to-respond-to-high-international-prices.md) | +9.8% | +8.3% |

## Sources

- hpj.com: https://hpj.com/2018/07/08/record-hog-and-pig-inventory-forcing-prices-lower/

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