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Lean Hogs Pit Jun '23 (LHM23)

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Lean Hogs (Pit) Futures Market News and Commentary

Hogs Closed Off Highs but still Stronger for NASS Report

Nearby lean hog futures were up by as much as $1.25 for the day’s high, but prices ended the day mixed / mostly higher. June was down by 15c for Thursday which finished the week’s move on a net $1.75 gain and put the monthly gain at $1.25. June traded the month of March from -$1.58 to +$3.27. USDA’s National Average Afternoon Base Hog price increased $2.21 to $81.47, with the WCB quote at $80.96 and the ECB quote at $83.22. 

The quarterly NASS report had March 1 hog inventory at 74.751 million head, a 0.6% increase vs last year. The trade was looking for a slightly lower hog herd yr/yr. USDA reported the breeding herd at 6.02 million head. The Dec-Feb pig crop was 1.9% above last year with 33.15m head, the trade was looking for a 1.4% increase on average. Farrowing intentions for March-May were 2.915 million head, or 0.88% below last year vs the 2.3% drop expected. 

USDA’s FAS reported 55.3k MT of pork was sold for the week that ended 3/21. That was a new yearly high, an... Read more

Contract Specifications

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Contract
Lean Hogs [Pit]
Contract Size
40,000 pounds
Tick Size
0.00025 per pound ($10.00 per contract)
Trading Hours
8:30a.m. - 1:02p.m. CST
Exchange
CME
Point Value
$400
Expiration Date
06/14/23 (expired)

Seasonal Chart

Lean Hogs Pit Jun '23
Average Price Chart for 5 Prior Pit Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
76.075 +14.62%
on 05/26/23
88.300 -1.25%
on 06/06/23
+3.100 (+3.69%)
since 05/12/23
3-Month
76.075 +14.62%
on 05/26/23
98.225 -11.22%
on 03/15/23
-14.375 (-14.15%)
since 03/14/23
52-Week
76.075 +14.62%
on 05/26/23
109.175 -20.13%
on 12/30/22
-14.200 (-14.00%)
since 06/14/22

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Most Recent Stories

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Cattle Firm Up into the Weekend

Thursday’s cattle trade pushed futures back up by $1.40 to $1.57. For the June contract that ended the week a net $2.65 lower after bouncing off the Bollinger midline. June fats were a net 97c weaker...

LEJ24 : 185.000s (+0.76%)
LEM24 : 180.250s (+0.88%)
LEQ24 : 178.200s (+0.86%)
GFH24 : 247.750s (-0.12%)
GFJ24 : 247.125s (+0.10%)
Hogs Closed Off Highs but still Stronger for NASS Report

Nearby lean hog futures were up by as much as $1.25 for the day’s high, but prices ended the day mixed / mostly higher. June was down by 15c for Thursday which finished the week’s move on a net $1.75...

HEJ24 : 86.625s (+0.61%)
HEM24 : 101.450s (-0.15%)
KMJ24 : 95.625s (+0.13%)
Shootin' the Bull about no more cheap corn

With the aspects of cheap corn now out of the picture, those declining cost of gains is now expected to rise.  While not necessarily bullish, the report is in no way bearish.  I think what it will do...

Corn Futures Rally Following Bullish USDA Report

The USDA report showed fewer acres of corn which sent prices sharply higher into the long weekend.

Agricultural Prices

Agricultural Prices - 2024-03-28

ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSBAUS.CM : -0.5658 (+1.27%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,791s (-1.07%)
XTK24 : 4,754s (+0.44%)
ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2047 (+3.97%)
ZCBAUS.CM : -0.2152 (+3.58%)
XVK24 : 2,400s (+0.54%)
XEU24 : 61.17 (-0.44%)
Hogs and Pigs

Hogs and Pigs - 2024-03-28

LHM24 : 101.675s (+1.98%)
HEM24 : 101.450s (-0.15%)
YKK24 : 15,220s (-1.49%)
Cattle Mostly Higher so far

Live cattle futures are trading with midday gains of as much as $1.80 across the front months. Feeders are also in the black with gains of as much as 80 cents. USDA confirmed some light cash trade on Wednesday...

LEJ24 : 185.000s (+0.76%)
LEM24 : 180.250s (+0.88%)
LEQ24 : 178.200s (+0.86%)
LEY00 : 184.000s (-2.13%)
GFH24 : 247.750s (-0.12%)
GFJ24 : 247.125s (+0.10%)
Hogs Pushing Upside into NASS Data

Lean hog futures are trading near to 70 cents under the session high for midday wit 40 to 8- cent gains on the board. USDA’s National Average Afternoon Base Hog price was $1.37 weaker to $79.26. The...

HEJ24 : 86.625s (+0.61%)
HEK24 : 92.500s (+0.11%)
KMJ24 : 95.625s (+0.13%)
Hogs Firmed Up for Wednesday

Nearby lean hog prices were 12 to 62 cents higher across the front months, leaving June with a $1.90 weekly gain into the quarterly Hogs and Pigs report. USDA’s National Average Afternoon Base Hog price...

HEJ24 : 86.625s (+0.61%)
HEM24 : 101.450s (-0.15%)
KMJ24 : 95.625s (+0.13%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 87.200
2nd Resistance Point 87.200
1st Resistance Point 87.200
Last Price 87.200s
1st Support Level 87.200
2nd Support Level 87.200
3rd Support Level 87.200

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52-Week High 109.175
Fibonacci 61.8% 96.531
Fibonacci 50% 92.625
Fibonacci 38.2% 88.719
Last Price 87.200s
52-Week Low 76.075

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