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Lean Hogs Oct '23 (HEV23)

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Lean Hogs Futures Market News and Commentary

Hogs Close Higher on Friday

Lean hog futures closed with gains of 17 cents to $1 on Friday. The national average base hog negotiated price was reported at $80.38 on Friday afternoon, down $1.87 from the day prior. The CME Lean Hog Index was reported at $81.93 on January 22, up 21 cents from the previous day. 

Cold Storage data indicated a total of 400.398 million lbs of pork stocks at the end of December, which was a 2.37% increase from last month but still down 6.3% from last year.

Weekly Export Sales data showed pork sales for 2025 totaling 37,741 MT during the week of 1/16. Japan was the buyer of 9,600 MT, with 9,000 MT sold to Mexico.  Shipments were tallied at just 22,822 MT, the lowest since early October. Mexico was the destination of 10,300 MT, with 2,700 MT shipped to South Korea.

USDA’s FOB plant pork cutout value was 8 cents lower in the Friday PM report at $91.69 per cwt. The ham and belly primals were the only reported higher. Federally inspected hog slaughter for this week at 2.... 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
10/13/23
Expiration Date
10/13/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 21, 2025

View Chart Details
Commercials - Long / Short
99,831 (+1,790)
163,328 (-3,913)
Non-Commercials - Long / Short
126,358 (-3,383)
56,382 (+3,183)
Producers - Long / Short
22,833 (+759)
140,476 (-3,021)
Swap Dealers - Long / Short
63,404 (+252)
9,258 (-1,671)
Managed Money - Long / Short
101,352 (-4,821)
10,659 (+2,801)
Other Reportables - Long / Short
25,006 (+1,438)
45,723 (+382)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
79.300 +3.31%
on 10/04/23
86.125 -4.88%
on 09/20/23
-2.050 (-2.44%)
since 09/13/23
3-Month
77.750 +5.37%
on 08/16/23
86.750 -5.56%
on 08/01/23
-1.425 (-1.71%)
since 07/13/23
52-Week
68.625 +19.38%
on 05/26/23
93.750 -12.61%
on 02/21/23
-2.550 (-3.02%)
since 10/13/22

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Hogs Close Higher on Friday

Lean hog futures closed with gains of 17 cents to $1 on Friday. The national average base hog negotiated price was reported at $80.38 on Friday afternoon, down $1.87 from the day prior. The CME Lean Hog...

HEG25 : 82.300s (+0.21%)
HEJ25 : 88.200s (+1.15%)
HEK25 : 92.875s (+0.95%)
Cattle Extending Rally Ahead of CoF Report

Live cattle futures extended the rally on Friday, with contracts up $1.67 to $3.67 in the front months and weaker in the deferreds. A few cash sales were reported early this week at $201 in the South,...

LEM25 : 197.375s (+0.86%)
LEG25 : 204.775s (+1.83%)
LEJ25 : 203.025s (+1.15%)
GFF25 : 278.700s (+0.59%)
GFH25 : 276.575s (+0.91%)
GFJ25 : 275.450s (+1.10%)
Shootin' the Bull about Covid's long lasting impacts

In my opinion, the cattle market is attempting to ration the number of producers and processing capabilities for the amount of inventory available.

Cattle on Feed

Cattle on Feed - 2025-01-24

GFH25 : 276.575s (+0.91%)
LEJ25 : 203.025s (+1.15%)
Cold Storage

Cold Storage - 2025-01-24

YKH25 : 12,960s (-0.35%)
HEJ25 : 88.200s (+1.15%)
GFH25 : 276.575s (+0.91%)
OJH25 : 476.10s (-4.03%)
BDH25 : 262.7500s (+0.48%)
LEJ25 : 203.025s (+1.15%)
Cattle Extending Rally Ahead of CoF Report

Live cattle futures are extending the rally on Friday, with contracts up $1.70 to $3.70. A few cash sales were reported early this week at $201 in the South, with some at $202. Northern trade has jumped...

LEM25 : 197.375s (+0.86%)
LEG25 : 204.775s (+1.83%)
LEJ25 : 203.025s (+1.15%)
GFF25 : 278.700s (+0.59%)
GFH25 : 276.575s (+0.91%)
GFJ25 : 275.450s (+1.10%)
Hogs Firmer on Friday

Lean hog futures are trading with contracts up 7 to 20 cents. The national average base hog negotiated price was reported at $78.12 on Friday morning. The CME Lean Hog Index was reported at $81.93 on January...

HEG25 : 82.300s (+0.21%)
HEJ25 : 88.200s (+1.15%)
HEK25 : 92.875s (+0.95%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 82.317
2nd Resistance Point 82.208
1st Resistance Point 82.067
Last Price 81.925s
1st Support Level 81.817
2nd Support Level 81.708
3rd Support Level 81.567

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52-Week High 93.750
Fibonacci 61.8% 84.152
Last Price 81.925s
Fibonacci 50% 81.188
Fibonacci 38.2% 78.223
52-Week Low 68.625

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