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Lean Hogs Feb '23 (HEG23)
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Lean Hogs Futures Market News and Commentary

Hogs Rally Into Weekend

Lean hog futures finished the last trade day of the week with $0.87 to $1.52 gains. For Feb, that only reduced the week’s loss to $1.12. The National Average Base Hog price for Friday afternoon was 17 cents higher at $51.88. The price in the ECB was shown at $52.51, compared to $51.52 in the WCB. The CME Lean Hog Index fell by 17 cents to $69.43 for 12/05. 

Weekly CFTC data showed the lean hog spec traders were closing longs and adding shorts during the week that ended 12/5. That left the funds with a 3.4k contract stronger net short of 17,963. 

The December WASDE increased Q4 2023 pork production by 25 million lbs to 7.065 billion for a full year 27.242 billion pounds. 2024’s outlook was left UNCH at 27.730 billion lbs.

The National Pork Carcass Cutout Value was 17 cents stronger on Thursday afternoon to $83.37. USDA’s weekly summary had pork output at 575.8 million lbs, matching last week and 3.1% above the same week last year. The yearly total production was lis... 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
02/14/23
Expiration Date
02/16/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
77,503 (+626)
48,058 (-1,626)
Non-Commercials - Long / Short
54,967 (+563)
79,657 (-23)
Producers - Long / Short
24,426 (+569)
38,999 (-671)
Swap Dealers - Long / Short
47,847 (+845)
3,829 (-167)
Managed Money - Long / Short
35,347 (-920)
52,316 (+1,306)
Other Reportables - Long / Short
19,620 (+1,483)
27,341 (-1,329)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
73.550 +2.89%
on 02/01/23
79.900 -5.29%
on 01/17/23
-2.975 (-3.78%)
since 01/13/23
3-Month
73.550 +2.89%
on 02/01/23
91.900 -17.66%
on 12/05/22
-13.300 (-14.95%)
since 11/14/22
52-Week
73.550 +2.89%
on 02/01/23
93.325 -18.91%
on 04/20/22
-10.400 (-12.08%)
since 02/14/22

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There are times when the market will complete a 78.6% retracement to a 78.6% retracement the other way as the Soybeans just did, or it can make a move of one major Gann square to another like it did in...

ZSH24 : 1332-6 (+0.74%)
ZCH24 : 485-0 (unch)
ZWZ23 : 615-0s (-1.76%)
Hogs Rally Into Weekend

Lean hog futures finished the last trade day of the week with $0.87 to $1.52 gains. For Feb, that only reduced the week’s loss to $1.12. The National Average Base Hog price for Friday afternoon was 17...

HEZ23 : 68.425s (+1.30%)
HEJ24 : 76.150s (+2.04%)
KMZ23 : 82.350s (+1.17%)
Strong Friday Rally for Cattle Futures

Live cattle limited the week’s draw down with a triple digit gain of as much as 2% on Friday. Feb fats were up by $3.20 for the day, but still down by $3.40 for the week. There have been no Dec cattle...

LEZ23 : 165.450s (+1.91%)
LEG24 : 165.725s (+1.97%)
LEJ24 : 169.300s (+2.02%)
GFF24 : 215.300s (+2.39%)
GFH24 : 216.075s (+2.32%)
Livestock Markets Rally to End Week on a Positive note

Short- covering rally to end week

Shootin' the Bull about good demand

In my opinion, cattle feeders got busy this week procuring inventory at the best basis spread of the year.  Not only that, I have heard of light weight cattle being gobbled up for wheat pastures and the...

Hogs Near Top End of $1.15 Range

Midday hog futures are trading 40 to 62 cents in the black, with the Feb contract ~20 cents off the session high. Feb futures have seen a$1.15 range so far for the last trade day of the week. The National...

HEZ23 : 68.425s (+1.30%)
HEG24 : 68.975s (+1.77%)
KMZ23 : 82.350s (+1.17%)
Cattle Rallying Triple Digits through Friday

Despite a bear friendly report, the cattle futures market is trading with triple digit gains of as much as 1.7%. Feeder cattle are leading the way through midday with gains of over 2% as the Jan contract...

LEZ23 : 165.450s (+1.91%)
LEG24 : 165.725s (+1.97%)
LEJ24 : 169.300s (+2.02%)
LEY00 : 170.740s (unch)
GFF24 : 215.300s (+2.39%)
GFH24 : 216.075s (+2.32%)
WASDE

WASDE - 2023-12-08

ZSF24 : 1313-2 (+0.71%)
ZSPAUS.CM : 12.5844 (+0.81%)
ZSBAUS.CM : -0.5481 (+1.47%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSF24 : 4,386s (+1.98%)
XTF24 : 4,902s (+0.16%)
ZCH24 : 485-0 (unch)
ZCPAUS.CM : 4.5469 (-0.06%)
ZCBAUS.CM : -0.3031 (+0.75%)
XVF24 : 2,490s (-0.12%)
XEU24 : 71.85 (+0.56%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 75.958
2nd Resistance Point 75.892
1st Resistance Point 75.783
Last Price 75.675s
1st Support Level 75.608
2nd Support Level 75.542
3rd Support Level 75.433

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52-Week High 93.325
Fibonacci 61.8% 85.771
Fibonacci 50% 83.438
Fibonacci 38.2% 81.104
Last Price 75.675s
52-Week Low 73.550

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