The breakout in weight categories was counter to the pattern analysts expected. This contrasts with market hogs weighing 120-179 pounds falling by 1.5% to 15.010 million head and market hogs over 180 pounds falling by 1.5% to 13.589 million head. Lighter market hogs fell by larger percentages than heaver animals market hogs under 50 pounds fell by 2.9% to 21.474 million head, and market hogs in the 50-119-pound range fell by 2.7% to 19.349 million head.

When looking at market hogs by weight groups, every weight group experienced a year-over-year decline. This decline was also in line with analysts’ predictions, with pre-report expectations coming in at a 2.6% decline, with a range from a 3.7% decline to a 0.9% decline. The number of market hogs also declined by 2.3%, with USDA reporting 69.423 million head. This report also breaks a 6-year streak of record levels of animals for the June report. This decrease was the first year-over-year decline for June since 2014, when the industry was disrupted from PEDv. This decline was largely in line with expectations as analysts had been expecting on average a decline of 2.5%, with the estimates ranging from a decline of 3.5% to 1%. The report showed that on June 1, all hogs and pigs were down to 75.653 million head, a decline of 2.2% from the same time last year. Producers use this data to determine production and marketing strategies, while the industry uses it to assess the markets and the future supply of product. Last week, USDA’s National Agricultural Statistics Service released its latest Quarterly Hogs and Pigs report, providing a detailed inventory of breeding and marketing hogs as of June 1.

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Quarterly hog and pig report