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Lean Hogs May '23 (HEK23)

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Lean Hogs Futures Market News and Commentary

Hogs Continue Drop into Friday

Lean hogs are down another $1.12 to $2.45 at midday. USDA’s National Average Base Hog negotiated price was not reported on Friday morning, with a 5 day rolling average at 90.45. The CME Lean Hog Index was back down 21 cents on April 24 at $91.43.  May futures still hold a near $4 premium to cash. 

USDA’s National Pork Carcass Cutout Value was higher in the Friday morning report, up $2.71 at $100.20. The ham primal was the only reported lower, with the belly leading the charge to the upside, $13.35 higher. USDA estimated Thursday’s federally inspected hog slaughter at 485,000 head, with the week to date total at 1.936 million head. That is down 4,000 head from last week but a 53,270 head increase from the same week last year. 

May 24 Hogs  are at $94.150, down $1.125,

Jun 24 Hogs  are at $102.675, down $2.325

Jul 24 Hogs  is at $105.925, down $1.875,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of t... 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
05/12/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Lean Hogs May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
98,812 (+994)
146,114 (-956)
Non-Commercials - Long / Short
122,474 (+1,989)
65,858 (+1,864)
Producers - Long / Short
19,697 (-966)
128,487 (-2,005)
Swap Dealers - Long / Short
72,028 (+329)
10,540 (-582)
Managed Money - Long / Short
98,711 (+2,243)
6,709 (-1,751)
Other Reportables - Long / Short
23,763 (-254)
59,149 (+3,615)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
75.300 +1.76%
on 05/05/23
81.600 -6.10%
on 04/17/23
-4.900 (-6.01%)
since 04/12/23
3-Month
75.300 +1.76%
on 05/05/23
97.675 -21.55%
on 02/21/23
-16.575 (-17.78%)
since 02/10/23
52-Week
75.300 +1.76%
on 05/05/23
102.150 -24.99%
on 12/27/22
-17.925 (-18.96%)
since 05/12/22

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Most Recent Stories

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Hogs Continue Drop into Friday

Lean hogs are down another $1.12 to $2.45 at midday. USDA’s National Average Base Hog negotiated price was not reported on Friday morning, with a 5 day rolling average at 90.45. The CME Lean Hog Index...

HEK24 : 94.275s (-1.05%)
HEM24 : 102.475s (-2.40%)
HEN24 : 105.950s (-1.72%)
Cattle Regaining Strength to Round Out Week

Cattle futures are continuing to shrug off the Wednesday overreaction, as contracts are up another 60 cents to $1.52 at midday. Cash trade kicked off on Thursday with a steady/higher note this week, as...

LEJ24 : 184.675s (+0.39%)
LEM24 : 178.575s (+0.44%)
LEQ24 : 176.775s (+0.41%)
GFK24 : 248.700s (+0.99%)
GFQ24 : 260.550s (+0.87%)
GFU24 : 261.575s (+0.83%)
Cattle Traders Look to Round Out the Week

Live cattle had a back and forth trade on Thursday but settled near the highs with $1.60 to $2.67 gains. Cash trade kicked off with a steady/higher note this week, as the South was at $182 in TX and $182-183...

LEJ24 : 184.675s (+0.39%)
LEM24 : 178.575s (+0.44%)
LEQ24 : 176.775s (+0.41%)
GFK24 : 248.700s (+0.99%)
GFQ24 : 260.550s (+0.87%)
GFU24 : 261.575s (+0.83%)
Hogs Ready to Close Out the Week

Lean hogs fell $1.17 to $2.45 in the front months on Thursday, with the other contracts down 80 to 97 cents. USDA’s National Average Base Hog negotiated price was down $2.78 on Thursday afternoon, at...

HEK24 : 94.275s (-1.05%)
HEM24 : 102.475s (-2.40%)
HEN24 : 105.950s (-1.72%)
Hogs Pull Back on Thursday with Negotiated Weakness

Lean hogs fell $1.17 to $2.45 in the front months on Thursday, with the other contracts down 80 to 97 cents. USDA’s National Average Base Hog negotiated price was down $2.78 on Thursday afternoon, at...

HEK24 : 94.275s (-1.05%)
HEM24 : 102.475s (-2.40%)
HEN24 : 105.950s (-1.72%)
Cattle Bounce Back from Wednesday’s Overreaction

Live cattle had a back and forth trade on Thursday but settled near the highs with $1.60 to $2.67 gains. Cash trade kicked off with a steady/higher note this week, as the South was at $182 in TX and $182-183...

LEJ24 : 184.675s (+0.39%)
LEM24 : 178.575s (+0.44%)
LEQ24 : 176.775s (+0.41%)
GFK24 : 248.700s (+0.99%)
GFQ24 : 260.550s (+0.87%)
GFU24 : 261.575s (+0.83%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 77.458
2nd Resistance Point 77.292
1st Resistance Point 76.958
Last Price 76.625s
1st Support Level 76.458
2nd Support Level 76.292
3rd Support Level 75.958

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52-Week High 102.150
Fibonacci 61.8% 91.893
Fibonacci 50% 88.725
Fibonacci 38.2% 85.557
Last Price 76.625s
52-Week Low 75.300

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