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Lean Hogs Jun '23 (HEM23)
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Lean Hogs Futures Market News and Commentary

July Hog Futures Held Firm

Most of the nearby lean hog futures closed in the red on Thursday, with losses from 2 cents in June to $1.30 in October. July contracts however stayed in the black and ended the day up by 27 cents. July was at a net $2.55 gain for the week’s move. USDA’s National Average Base Hog price for Thursday afternoon was $1.01 higher to $94.12. The 6/5 CME Lean Hog Index was 65 cents higher to $81.86.  

The weekly Export Sales report had 25,473 MT of pork bookings for the week that ended 6/1. That was a 12% increase for the week and was up 52% from the same week last year. Mexico and China were the top buyers. Accumulated pork exports were 706,844 MT as of 6/1 according to the weekly report. Census conversions put the official volume at 2.25b pounds through April.  April’s pork export was 580.6m lbs. 

Pork cutout futures closed Thursday down by 7 cents to $1.05. USDA’s National Pork Carcass Cutout Value was 53 cents higher to $85.68 on Thursday. USDA estimated the week’s FI hog s... 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
$1,705/1,550
First Notice Date
06/14/23 (6 days)
Expiration Date
06/14/23 (6 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
89,961 (+1,958)
56,728 (-870)
Non-Commercials - Long / Short
54,977 (-5,056)
91,091 (-2,794)
Producers - Long / Short
23,448 (+30)
40,190 (-2,903)
Swap Dealers - Long / Short
54,434 (+170)
4,459 (+275)
Managed Money - Long / Short
38,013 (-6,516)
73,455 (+766)
Other Reportables - Long / Short
16,964 (+1,460)
17,636 (-3,560)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
75.450 +16.20%
on 05/26/23
88.525 -0.96%
on 06/06/23
+4.375 (+5.25%)
since 05/08/23
3-Month
75.450 +16.20%
on 05/26/23
103.275 -15.11%
on 03/13/23
-12.600 (-12.57%)
since 03/08/23
52-Week
75.450 +16.20%
on 05/26/23
109.775 -20.13%
on 12/27/22
-13.800 (-13.60%)
since 06/08/22

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Most Recent Stories

More News
July Hog Futures Held Firm

Most of the nearby lean hog futures closed in the red on Thursday, with losses from 2 cents in June to $1.30 in October. July contracts however stayed in the black and ended the day up by 27 cents. July...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Cattle Close Red on Thursday

Cattle futures were attempting to recover from the midweek session early, but ultimately added to the drop with $0.90 to $1 losses. June fats were the firmest, going home only 22 cents in the red. Cash...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Shootin' the Bull about accomplishments

I think a great deal has been accomplished this week.  The higher price paid by some may well be the last time they pay that much.  As well, those that did buy, may not need to come back to the market...

Mixed but Mostly Weaker Thursday for Hogs

So far through Thursday the hog market is down 45 cents to $1.10. July contracts are the exception with a midday gain of 20 cents. USDA’s National Average Base Hog price was $1.63 stronger to $94.07....

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Cattle Firming Back Up on Thursday

Following the midweek cooldown, cattle futures are back up by 2 to 70 cents. June contracts are leading the way to stay true to the cash market strength during the delivery period. USDA confirmed sales...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Hog Market Up for the Week through Wednesday

The front month hog futures market dropped as much as $2.17. June stayed relatively firm with a 60 cent drop. July contracts are still at a net $2.27 gain for the week’s move. USDA’s National Average...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Midweek Drop Followed New Cattle Highs

Cattle futures cooled off for the midweek session, ending down by $2.30 to $2.82. June fats were the exception with an 82 cent drop. The Merc showed Dec 7th was the oldest dated long for June cattle, with...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Hogs Drop Triple Digits

The front month hog futures market dropped as much as $2.17. June stayed relatively firm with a 60 cent drop. July contracts are still at a net $2.27 gain for the week’s move. USDA’s National Average...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Triple Digit Losses for Cattle Market

Cattle futures cooled off for the midweek session, ending down by $2.30 to $2.82. June fats were the exception with an 82 cent drop. The merc showed Dec 7th was the oldest dated long for June cattle, with...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Shootin' the Bull about a reversal?

Well, now what? Whether a push back in price, profit taking decline, or the top, the most recent higher cash may start to increase the attempts to thwart price.  It is anticipated for the grocer to pass...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 89.308
2nd Resistance Point 88.592
1st Resistance Point 88.133
Last Price 87.675s
1st Support Level 86.958
2nd Support Level 86.242
3rd Support Level 85.783

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52-Week High 109.775
Fibonacci 61.8% 96.663
Fibonacci 50% 92.613
Fibonacci 38.2% 88.562
Last Price 87.675s
52-Week Low 75.450

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