Is the U.S. hog herd ready to expand? Economists say it’s possible

While America’s ranchers work to rebuild the cattle herd, economists say something is brewing with hogs.

New data shows the U.S. hog herd could be ready to expand. They have been crunching the numbers and say feed costs are the largest indicator right now.

“The hog-to-corn price ratio just rounds up to 20 for the last two quarters. Last Friday’s closing prices for the same month’s hog and corn futures contracts suggest ratios exceeding 27 in July and 20 in December 2025, and remaining above 20 in May 2026. If such levels persist, perhaps some breeding herd growth could be observed in subsequent quarterly reports,” said Jason Franken.

Franken has been studying these numbers for a while now. He says that if those levels keep up, future reports could show breeding herd growth down the line.

Related Stories
Andy Tauer from the National Pork Board discusses efforts to boost pork demand and how the industry is responding to trade restrictions related to pseudorabies.
USDA’s first 2026/27 outlook shows tighter supplies across several markets, led by wheat, corn, cotton, rice, beef, and sugar.
American beef and pork products are gaining visibility in Colombian butcher shops through training and merchandising programs.
Based on USDA data compiled by the U.S. Meat Export Federation, pork exports increased by six percent in March compared to the previous year, while beef exports weakened overall.
New trade access, tariff concerns and international negotiations are reshaping the global beef market.
National Pork Producers Council President Rob Brenneman joins us to discuss Prop 12 provisions in the House’s Farm Bill as it heads to the Senate for debate.

LATEST STORIES BY THIS AUTHOR:

Jack Hubbard, with the Center for the Environment and Welfare, shares context and perspective on the controversial letter about Prop 12 circulating in Washington and how a review shows it misled the public.
AFBF Economist Faith Parum discusses the financial challenges currently facing farmers and the Farm Bureau’s 2026 outlook for the farm economy.
From tariff talks in Europe to SCOTUS uncertainty and rising farm losses, analysts say policy and global supply will shape grain markets in the year ahead.
Ethanol and corn groups are not hiding their disappointment over new reports that the bill to allow year-round E15 sales failed as Congress forges ahead on government funding, with another shutdown looming.
While row crops are expected to see softer impacts, analysts say severe weather of this magnitude will not be as kind to cattle producers.
Cape Cod FarmHER Chloe Starr dives into the world of shellfish farming at one of the few oyster & clam hatcheries in the U.S.
Agriculture Shows
Hosted by Scott “The Cow Guy” Shellady and RFD News Markets Specialist Tony St. James, Commodity Talk delivers expert insight into the day’s ag commodity markets just before the CME opens. Only on RFD-TV and Rural Radio SiriusXM Channel 147.
A look at the news, weather and commodities headlines that drove agriculture markets in the past week.
Everything profits from prairie. Soil, air, water — and all kinds of life! Learn how you can improve your land with prairie restoration, cover crops and prairie strips, while growing your bottom line.
Special 3-part series tells the story of the Claas family’s legacy, which changed agriculture forever.