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Lean Hogs Aug '24 (HEQ24)

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Lean Hogs Futures Market News and Commentary

Hogs Can't Keep Up With Cattle

Lean hog futures were apparently trying to buy some market share at the meat counter, going the opposite direction from the cattle.  They settled $.27 to $1.45 lower. Nearby June got a little help from its proximity to the Index and convergence ahead of expiration. The CME Lean Hog Index was down 17 cents  at $91.75 on June 6.  USDA put the National Base Hog weighted average price at $88.58, up $2.60. 

USDA’s Estimated Primal Cutout Value was down 48 cents in the PM report compared to Friday, at $100.43.  Hams were the only primal in plus territory this afternoon, and the PM belly quote was down $1.23, a different signal than the up $10.86 in the morning report.  USDA estimated Monday FI hog slaughter at 471,000 head, down from 483,000 a week ago but up from 458,272 head on the same Monday a year ago. 

Jun 24 Hogs  closed at $92.250, down $0.275,

Jul 24 Hogs  closed at $92.900, down $0.600

Aug 24 Hogs  closed at $90.225, down $1.450,

On the date of public... Read more

Contract Specifications

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Contract
Lean Hogs
Contract Size
40,000 pounds
Tick Size
0.00025 per pound ($10.00 per contract)
Trading Hours
8:30a.m. - 1:05p.m. (Settles 1:00p.m.) CST
Exchange
CME
Point Value
$400
Margin/Maintenance
$1,650/1,500
First Notice Date
08/14/24 (64 days)
Expiration Date
08/14/24 (64 days)

Seasonal Chart

Lean Hogs Aug '24
Average Price Chart for 5 Prior Aug Contracts

Commitment of Traders Positions as of Jun 4, 2024

View Chart Details
Commercials - Long / Short
109,683 (+1,333)
112,548 (-5,103)
Non-Commercials - Long / Short
80,913 (-1,031)
75,367 (+7,085)
Producers - Long / Short
21,728 (+539)
89,834 (-7,772)
Swap Dealers - Long / Short
72,510 (-3,080)
7,269 (-1,205)
Managed Money - Long / Short
55,200 (-1,805)
36,174 (+10,236)
Other Reportables - Long / Short
25,713 (+774)
39,193 (-3,151)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
90.125 +0.11%
on 06/10/24
102.000 -11.54%
on 05/16/24
-10.350 (-10.29%)
since 05/10/24
3-Month
90.125 +0.11%
on 06/10/24
108.300 -16.69%
on 04/10/24
-12.125 (-11.85%)
since 03/08/24
52-Week
90.125 +0.11%
on 06/10/24
108.300 -16.69%
on 04/10/24
-2.900 (-3.11%)
since 06/09/23

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Most Recent Stories

More News
Cattle Futures Bulls on the Run Monday

Live cattle futures bulls were flexing some muscles today, with the market settling $1.75 to $2.80 higher. Cash trade activity mostly consisted of collecting show lists. Feeder cattle futures had the...

LEM24 : 183.925s (+0.96%)
LEQ24 : 179.975s (+1.58%)
LEV24 : 182.175s (+1.39%)
GFQ24 : 258.650s (+1.46%)
GFU24 : 259.725s (+1.51%)
GFV24 : 260.200s (+1.46%)
Hogs Can't Keep Up With Cattle

Lean hog futures were apparently trying to buy some market share at the meat counter, going the opposite direction from the cattle. They settled $.27 to $1.45 lower. Nearby June got a little help from...

HEM24 : 92.250s (-0.30%)
HEN24 : 92.900s (-0.64%)
HEQ24 : 90.225s (-1.58%)
Shootin' the Bull about divergence.

I don't think the corn belt classic brought the stupendous prices most expected.  The futures big gains and seemingly none in the cash markets leads me to believe that simply some divergence took place...

Corn and Soybeans Firm While Wheat Retreats. Crop Condition Ratings Were Just Released.

Corn and soybeans were firm to start the week but wheat futures continued to slide lower marking the ninth consecutive day of losses, the longest streak since 2015.

Pure Hedge - Livestock and Grain

Wheat makes new lows, as Cattle Rally. WASDE on Wednesday.

Can A 78.6% Fibonacci Retracement Stop The Cattle Rally Again?

Educational and Actionable information using Fibonacci & W.D. Gann analysis

LEQ24 : 179.975s (+1.58%)
Hogs Stuck on Red Side of Ledger at Midday

Lean hog futures are $.22 to $1.02 lower at midday, not finding any crossover buying interest from the sharply higher cattle market. The CME Lean Hog Index was down 17 cents at $91.75 on June 6. USDA...

HEM24 : 92.250s (-0.30%)
HEN24 : 92.900s (-0.64%)
HEQ24 : 90.225s (-1.58%)
Cattle Futures Sharply Higher, Aided by Beef Movement

Live cattle futures are in the middle of a robust rally at midday, up $1.45 to $2.55. The June 182 calls ended up in the money at expiration, and those new futures positions are showing some gains this...

LEM24 : 183.925s (+0.96%)
LEQ24 : 179.975s (+1.58%)
LEV24 : 182.175s (+1.39%)
GFQ24 : 258.650s (+1.46%)
GFU24 : 259.725s (+1.51%)
GFV24 : 260.200s (+1.46%)
Cattle Down on Friday, but Beef Prices Firmed

Live cattle futures were down 30 cents to up 35 cents on Friday. The June 182 calls ended up in the money at expiration, while the 182 puts expired worthless. Some northern cash cattle trades were reported...

LEM24 : 183.925s (+0.96%)
LEQ24 : 179.975s (+1.58%)
LEV24 : 182.175s (+1.39%)
GFQ24 : 258.650s (+1.46%)
GFU24 : 259.725s (+1.51%)
GFV24 : 260.200s (+1.46%)
Hogs Saw Short Covering Gains on Friday

Lean hogs ended Friday with some contracts up on the day and others lower. Overall changes were -$.10 to +$.52. Preliminary open interest suggests short covering, dropping 2,338 contracts. The CME Lean...

HEM24 : 92.250s (-0.30%)
HEN24 : 92.900s (-0.64%)
HEQ24 : 90.225s (-1.58%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 93.150
2nd Resistance Point 92.525
1st Resistance Point 91.375
Last Price 90.225s
1st Support Level 89.600
2nd Support Level 88.975
3rd Support Level 87.825

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52-Week High 108.300
Fibonacci 61.8% 101.357
Fibonacci 50% 99.213
Fibonacci 38.2% 97.068
Last Price 90.225s
52-Week Low 90.125

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