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Lean Hogs Feb '24 (HEG24)
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Lean Hogs Futures Market News and Commentary

Midweek Gain for Lean Hogs

Front month hog prices added another $1.07 to $1.60 to the upside on Wednesday. Dec futures still remain below the index, but only increased 5 cents on the day. The CME Lean Hog Index for 11/27 was $71.66, down by another 67 cents. USDA’s National Average Base Hog price was down by 37 cents to $58.06. 

The National Pork Carcass Cutout Value was 83 cents weaker on Wednesday to $83.97. USDA estimated the week’s FI hog slaughter at 1.444 million head through Wednesday. That is 22k more than last week’s pace but 22k below the same week last year.  

 

Dec 23 Hogs  closed at $68.975, up $0.050,

Feb 24 Hogs  closed at $70.100, up $1.075

Dec 23 Pork Cutout  closed at $80.625, down $0.350,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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
02/14/24 (77 days)
Expiration Date
02/14/24 (77 days)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 21, 2023

View Chart Details
Commercials - Long / Short
75,055 (-391)
54,409 (-6,576)
Non-Commercials - Long / Short
54,041 (-4,011)
70,982 (+2,482)
Producers - Long / Short
22,596 (+3,133)
43,202 (-3,957)
Swap Dealers - Long / Short
46,561 (-1,627)
5,309 (-722)
Managed Money - Long / Short
36,856 (-7,029)
37,272 (+6,838)
Other Reportables - Long / Short
17,185 (+3,018)
33,710 (-4,356)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
65.800 +6.53%
on 11/28/23
77.775 -9.87%
on 11/07/23
-3.400 (-4.63%)
since 10/27/23
3-Month
65.800 +6.53%
on 11/28/23
81.300 -13.78%
on 09/20/23
-6.900 (-8.96%)
since 08/29/23
52-Week
65.800 +6.53%
on 11/28/23
88.350 -20.66%
on 02/21/23
-14.900 (-17.53%)
since 11/28/22

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Most Recent Stories

More News
Midweek Gain for Lean Hogs

Front month hog prices added another $1.07 to $1.60 to the upside on Wednesday. Dec futures still remain below the index, but only increased 5 cents on the day. The CME Lean Hog Index for 11/27 was $71.66,...

HEZ23 : 68.975s (+0.07%)
HEJ24 : 76.475s (+1.97%)
KMZ23 : 80.625s (-0.43%)
Cattle Strength Carried through Wednesday

Cattle closed the midweek session with another $0.25 to $1.05 gains across the front months. CME data showed net short covering, with net new calls active from the strong Tuesday session. USDA reported...

LEZ23 : 171.900s (+0.15%)
LEG24 : 173.475s (+0.38%)
LEJ24 : 175.925s (+0.60%)
GFF24 : 222.200s (+0.52%)
GFH24 : 224.275s (+0.35%)
Shootin' the Bull about laying blame

The blaming of others, and excuses for not managing risk, continues to be rampant.  Regardless of which fallacy you subscribe to, and there are a lot, this is a market and markets can be irrational, and...

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Broiler Hatchery - 2023-11-29

Z8Y00 : 116.50s (unch)
WDF24 : 4,254s (-2.21%)
Cattle Extending Relief Rally

Cattle prices are another 32 to 95 cents in the black after seeing a strong bounce on Tuesday. CME data showed net short covering, with net new calls active. Midday feeder cattle futures are also extending...

LEZ23 : 171.900s (+0.15%)
LEG24 : 173.475s (+0.38%)
LEJ24 : 175.925s (+0.60%)
LEY00 : 177.000s (unch)
GFF24 : 222.200s (+0.52%)
GFH24 : 224.275s (+0.35%)
Are Grains Due For a Bigger Rally?

Soybean and wheat futures were leaders yesterday and so far this morning, that rings true again. Will that strength help pull corn higher?

Is the Low in for Cattle Futures?

Cattle futures rally sharply in yesterday giving us expanded limits for live cattle and feeder cattle futures in today’s session. Is the bottom finally in?

Expanded Limits Following Jan Feeders’ Limit Gain

After hitting new lows for the move, live cattle futures rallied back $2.87 to $4.20 across the nearbys. The Feb contract was $1 off the session high, but still up by $4 on the day. Feeder cattle also...

LEZ23 : 171.900s (+0.15%)
LEG24 : 173.475s (+0.38%)
LEJ24 : 175.925s (+0.60%)
GFF24 : 222.200s (+0.52%)
GFH24 : 224.275s (+0.35%)
Hogs Rally Triple Digits on Tuesday

Hogs recovered after the Thanksgiving week losses, closing Tuesday 1.2% to 3.2% in the black. Feb futures were $2.10 higher. USDA’s National Average Base Hog price was down another $0.42 to $58.43 for...

HEZ23 : 68.975s (+0.07%)
HEJ24 : 76.475s (+1.97%)
KMZ23 : 80.625s (-0.43%)
Cattle Gets A Bounce After Hitting 61.8% Target

The break from 177.30 not only hit the short term target of the 173.22 major Gann square, but went on to complete the long term target of 61.8% at 168.25

LEZ23 : 171.900s (+0.15%)
ZCZ23 : 452-2 (+0.56%)
ZSH24 : 1367-4 (+0.15%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 74.275
2nd Resistance Point 72.550
1st Resistance Point 71.325
Last Price 70.100s
1st Support Level 68.375
2nd Support Level 66.650
3rd Support Level 65.425

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52-Week High 88.350
Fibonacci 61.8% 79.736
Fibonacci 50% 77.075
Fibonacci 38.2% 74.414
Last Price 70.100s
52-Week Low 65.800

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