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Lean Hogs Apr '24 (HEJ24)

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Lean Hogs Futures Market News and Commentary

Hogs Collapse into the Weekend

Lean hogs were down the limit at times on Friday, but saw June closing a tick off of it, with most contracts down $1.95 to $3.725 on Friday. April futures expired today. USDA’s National Average Base Hog price was down 45 cents in the Friday afternoon report at $86.60.  The CME Lean Hog Index was another $1.06 higher at $89.84 on April 10. 

Managed money extended their large net long in the hog market, adding 15,803 contracts of futures and options during the week that ended on April 9. They held their largest net long since October 2013 at 92,731 contracts on Tuesday.

USDA’s National Pork Carcass Cutout Value was back down 9 cents in the Friday PM report, at $101.20. The loin, rib, and ham primals were reported lower. USDA estimated this week’s federally inspected hog slaughter at 2.485 million head. That is 64,000 head above last week and a 58,000 head increase from the same week last year. Pork production this week was up 1.4% from last year at 534.6 million lbs. 

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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
$1,650/1,500
First Notice Date
04/12/24
Expiration Date
04/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 9, 2024

View Chart Details
Commercials - Long / Short
104,697 (+6,344)
148,652 (+13,937)
Non-Commercials - Long / Short
128,394 (+21,555)
76,179 (+12,475)
Producers - Long / Short
26,056 (+4,311)
131,831 (+13,468)
Swap Dealers - Long / Short
73,031 (+2,323)
11,211 (+759)
Managed Money - Long / Short
102,773 (+19,058)
9,669 (+1,126)
Other Reportables - Long / Short
25,621 (+2,497)
66,510 (+11,349)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
83.925 +8.28%
on 03/13/24
91.800 -1.01%
on 04/10/24
+5.525 (+6.47%)
since 03/12/24
3-Month
76.725 +18.44%
on 01/17/24
91.800 -1.01%
on 04/10/24
+12.250 (+15.58%)
since 01/12/24
52-Week
71.700 +26.74%
on 01/02/24
91.800 -1.01%
on 04/10/24
+5.325 (+6.22%)
since 04/12/23

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Live cattle resumed the collapse on Friday, as contracts were down $1.25 to $2.77. No delivery notices were issued against April futures on Friday. Cash trade this week was reported @ $182 in the South,...

LEJ24 : 178.900s (-0.75%)
LEM24 : 171.475s (-1.39%)
LEQ24 : 168.750s (-1.57%)
GFJ24 : 237.600s (-0.66%)
GFK24 : 234.200s (-1.66%)
GFQ24 : 245.500s (-1.39%)
Hogs Collapse into the Weekend

Lean hogs were down the limit at times on Friday, but saw June closing a tick off of it, with most contracts down $1.95 to $3.725 on Friday. April futures expired today. USDA’s National Average Base...

HEK24 : 93.875s (-3.52%)
HEN24 : 104.250s (-3.14%)
KMK24 : 101.250s (-3.04%)
Hogs Crash Go Limit Down

Hogs Go down Limit. Settle just above down limit

Cattle Collapse Resumes on Friday

Live cattle are resuming the collapse after some recovery earlier this week, as cotnracts are now down $2 to $3.50 at midday. No delivery notices were issued against April futures on Thursday. A little...

LEJ24 : 178.900s (-0.75%)
LEM24 : 171.475s (-1.39%)
LEQ24 : 168.750s (-1.57%)
GFJ24 : 237.600s (-0.66%)
GFK24 : 234.200s (-1.66%)
GFQ24 : 245.500s (-1.39%)
Hogs Head Lower with Negotiated Hog Weakness

Lean hogs are showing limit losses in the June contracts, with most other nearbys down $2 to $3.55. April expires today and is just 52 cents lower. USDA’s National Average Base Hog price was down $85.42...

HEK24 : 93.875s (-3.52%)
HEN24 : 104.250s (-3.14%)
KMK24 : 101.250s (-3.04%)
Cattle Futures Post Gains

Cattle futures were under pressure in the first half of the week but were able to stabilize yesterday. Is more relief in play or was yesterday just a dead cat bounce?

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 91.900
2nd Resistance Point 91.675
1st Resistance Point 91.275
Last Price 90.875s
1st Support Level 90.650
2nd Support Level 90.425
3rd Support Level 90.025

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52-Week High 91.800
Last Price 90.875s
Fibonacci 61.8% 84.122
Fibonacci 50% 81.750
Fibonacci 38.2% 79.378
52-Week Low 71.700

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