If you build packer space, the hogs will come. With an unprecedented amount of packing capacity open and more slated to come, producers have been quick to respond by increasing supplies. According to USDA’s inventory of all hogs and pigs on Sept. 1, 2017, total inventory was 73.5 million head, a record high. This was up 2% from Sept. 1, 2016, and up 3% from June 1, 2017. Market hog inventory, at 67.5 million head, record high, was up 3% from last year, and up 3% from last quarter.