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Lean Hogs Aug '23 (HEQ23)
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Lean Hogs Futures Market News and Commentary

Hogs Gapped Higher on Triple Digit Tuesday

Front month lean hog futures gapped higher and proceeded to rally as much as 4.96%. The July contract led the way and is back to a premium over the June contract. USDA’s PM National Average Base Hog price was $92.13 on Tuesday, up by $6.84. The CME Lean Hog Index for 6/2 was 69 cents higher to $81.21.  

Pork cutout futures ended the session with $1.52 to $3.20 gains. USDA’s National Pork Carcass Cutout Value for Tuesday afternoon was $4.08 weaker to $84.98. Bellies were quoted $23.78 lower to $79.08. USDA estimated FI hog slaughter at 469k head on Tuesday for a weekly total of 936k. That is 7,000 head behind last year’s pace for the same week.  

 

Jun 23 Hogs  closed at $88.300, up $2.975,

Jul 23 Hogs  closed at $88.325, up $4.175

Jun 23 Pork Cutout  closed at $90.400, up $2.400,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data... 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
08/14/23 (69 days)
Expiration Date
08/14/23 (69 days)

Seasonal Chart

Lean Hogs Aug '23
Average Price Chart for 5 Prior Aug 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)
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Price Performance

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Period Period Low Period High Performance
1-Month
73.475 +15.01%
on 05/26/23
88.900 -4.95%
on 05/16/23
-1.875 (-2.17%)
since 05/05/23
3-Month
73.475 +15.01%
on 05/26/23
105.625 -20.00%
on 03/13/23
-19.250 (-18.55%)
since 03/06/23
52-Week
73.475 +15.01%
on 05/26/23
109.025 -22.49%
on 12/27/22
-15.700 (-15.67%)
since 06/06/22

More Lean Hogs Quotes

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Most Recent Stories

More News
Hogs Gapped Higher on Triple Digit Tuesday

Front month lean hog futures gapped higher and proceeded to rally as much as 4.96%. The July contract led the way and is back to a premium over the June contract. USDA’s PM National Average Base Hog...

HEM23 : 88.300s (+3.49%)
HEQ23 : 84.500s (+3.52%)
KMM23 : 90.400s (+2.73%)
Triple Digit Rally for Cattle Futures

The live cattle futures market ended the day with $1.42 to $2.67 gains and saw new all time highs of above $180. USDA confirmed Tuesday’s cash trade was $3-$5 higher with WCB sales near $190 and $288-$292...

LEM23 : 179.825s (+1.51%)
LEQ23 : 175.500s (+1.28%)
LEV23 : 178.250s (+1.09%)
GFQ23 : 243.250s (+0.27%)
GFU23 : 246.525s (+0.37%)
Grain Futures Prices Rally on Declining Crop Conditions

Grain futures prices rally on declining crop conditions. Hot and dry weather conditions throughout the Midwest continue to raise concerns over drought.

Shootin' the Bull about higher and higher cattle

Seemingly, the breaking of the consumers spending habit has been slow.  Gasoline prices remain elevated over diesel fuel, suggesting more consumer spending than business spending

Lean Hogs and the Rubber Band Disposition

The lean hog market has turned into a classic Rubber Band Disposition, with commercial and noncommercial interests moving in different directions.

HEY00 : 80.520s (+1.12%)
HEN23 : 88.325s (+4.96%)
HEV23 : 77.850s (+2.00%)
Hog Futures Rallying for Turnaround Tuesday

The lean hog market is up triple digits through midday led by a 3.95% gain in the July contract. The June contract has recovered nearly all of the drop since mid-May. USDA’s National Average Base Hog...

HEM23 : 88.300s (+3.49%)
HEQ23 : 84.500s (+3.52%)
KMM23 : 90.400s (+2.73%)
Cattle Rallying to New ATH

June cattle futures are $2.35 higher at midday, but briefly traded +$180 for a new all time high for the lead month contract. The other nearby futures are also triple digits stronger at midday. Feeder...

LEM23 : 179.825s (+1.51%)
LEQ23 : 175.500s (+1.28%)
LEV23 : 178.250s (+1.09%)
LEY00 : 171.000s (unch)
GFQ23 : 243.250s (+0.27%)
GFU23 : 246.525s (+0.37%)
Summer Hogs Pause Last Week’s Rally

June, July, and August hog futures took a step back on Monday led by a $1.40 drop in June. The back months extended the rally, ending the day with $0.57 to $1.10 gains. June hogs were still at an $11 premium...

HEM23 : 88.300s (+3.49%)
HEQ23 : 84.500s (+3.52%)
KMM23 : 90.400s (+2.73%)
June Cattle Enter Deliveries

CME reported no delivery notices on FND with the mostly positive basis; the oldest dated long was marked October 25th - there were still 16,056 contracts opened at the settle. Monday’s market worked...

LEM23 : 179.825s (+1.51%)
LEQ23 : 175.500s (+1.28%)
LEV23 : 178.250s (+1.09%)
GFQ23 : 243.250s (+0.27%)
GFU23 : 246.525s (+0.37%)
Livestock Report

Markets consolidate

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 87.617
2nd Resistance Point 86.233
1st Resistance Point 85.367
Last Price 84.500s
1st Support Level 83.117
2nd Support Level 81.733
3rd Support Level 80.867

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52-Week High 109.025
Fibonacci 61.8% 95.445
Fibonacci 50% 91.250
Fibonacci 38.2% 87.055
Last Price 84.500s
52-Week Low 73.475

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