The June 1 inventory of hogs and pigs in the U.S. was at the highest June level since 2020 with 75.1 million head total, according to a recent study from the University of Missouri.
However, even with increased overall herd size, the swine industry’s breeding herd is at its smallest since 2015, down 0.47% from 2024. The report says the breeding herd could see growth if feed prices continue to decline, as shown in another recent study from farmdoc.com.
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Farrowing and hog herd size are typically tied to the hog-corn price ratio. A ratio of about 20-1 historically indicates profitability and recent estimates have hovered right above that level, with December 2025 and May 2026 hog-corn price ratios at 20.05 and 20.41, respectively.
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