Hog producers can expect continued profitability as the U.S. pork supply tightened unexpectedly last quarter, according to a recent report. 

The U.S. Department of Agriculture’s (USDA) most recent hogs and pigs report — published Sept. 25 — revealed that inventories are down 1.35% from last year, with the breeding herd shrinking to its smallest size in more than a decade, according to an analysis by University of Missouri ag economist Jason Franken.

Franken said the report defied analysts’ expectations that the U.S. herd was entering a period of expansion. Instead, the report revised previous inventory counts down, which helps explain the...