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Lean Hogs Feb '20 (HEG20)

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Lean Hogs Futures Market News and Commentary

Hogs Lower on Some Product Weakness

Lean hog futures spent most of the Thursday session flipping from positive to negative territory, but ultimately ended the session mostly lower withing 17 cents of UNCH. April hogs closed at $87.30 after a 62 cent drop. The CME Lean Hog Index was 64 cents higher on 3/2 to $83.27. USDA’s National Average Base Hog price was another $1.93 higher to $84.68 in the PM quote.

USDA’s weekly Export Sales report showed a 21-week high 59,615 MTs of pork booked for the week ending 2/25. China purchased 47% of this week’s total sales, but is still the destination for just 27% of 2021’s 668,688 MT total commitments. 

Pork cutout futures closed 20 to 82 cents weaker on Thursday. USDA’s National Pork Carcass Cutout Value was $93.52 in the PM report, up by $2.11. USDA estimates federally inspected hog slaughter for the week through Thursday at 1.982m head. That is 1,000 head above the same week last year’s pace.

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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
$1,980/1,800
First Notice Date
02/14/20
Expiration Date
02/14/20 (expired)

Seasonal Chart

Lean Hogs Feb '20
Average Price Chart for 5 Prior Feb Contracts

Commitment of Traders Positions as of Feb 23, 2021

View Chart Details
Commercials - Long / Short
78,259 (-96)
137,757 (+4,928)
Non-Commercials - Long / Short
105,123 (+3,159)
34,243 (-2,565)
Producers - Long / Short
12,047 (-140)
126,745 (+5,021)
Swap Dealers - Long / Short
61,547 (+95)
6,347 (-42)
Managed Money - Long / Short
80,504 (+2,658)
9,376 (-2,863)
Other Reportables - Long / Short
24,619 (+501)
24,867 (+298)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
54.675 +2.24%
on 02/03/20
69.000 -18.99%
on 01/23/20
-11.775 (-17.40%)
since 01/14/20
3-Month
54.675 +2.24%
on 02/03/20
73.400 -23.84%
on 11/15/19
-17.475 (-23.82%)
since 11/14/19
52-Week
54.675 +2.24%
on 02/03/20
90.550 -38.27%
on 04/18/19
-11.075 (-16.54%)
since 02/14/19

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Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 56.200
1st Resistance Point 56.050
Last Price 55.900s
1st Support Level 55.700
2nd Support Level 55.500
3rd Support Level N/A

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52-Week High 90.550
Fibonacci 61.8% 76.846
Fibonacci 50% 72.613
Fibonacci 38.2% 68.379
Last Price 55.900s
52-Week Low 54.675

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