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Lean Hogs Oct '23 (HEV23)
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Lean Hogs Futures Market News and Commentary

Hog Futures Red at Midday

Aside from the October contract’s 5c gain, front month hogs are trading 17 to 50 cents in the red for a turnaround Tuesday. USDA’s National Average Base Hog price was a nickel weaker to $77.54. The CME Lean Hog Index was 9 cents lower to $87.08 on 9/21. 

Trade estimates are surfacing for Thursday’s USDA quarterly Hogs & Pigs report. The industry in general is expecting further downsizing of the hog herd, both breeding herd and market hogs, with the average of trade guesses we have seen so far down 1% for the former. If the All Hogs number is down 0.7%, that will be the fewest hogs since 2017. 

Pork stocks in cold storage at the end of August were tallied at 471.09 million lbs. That was down 13.18% compared to the August 2022 NASS figure and slightly above the July total.

Pork cutout futures are also 7 to 50 cents weaker in the front months. The USDA’s National Pork Carcass Cutout Value for Monday afternoon was $1.60 higher. USDA estimated Monday’s FI hog slaughter... 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 (17 days)
Expiration Date
10/13/23 (17 days)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 19, 2023

View Chart Details
Commercials - Long / Short
73,285 (-612)
71,981 (+2,793)
Non-Commercials - Long / Short
66,719 (+294)
65,137 (-2,018)
Producers - Long / Short
17,096 (+582)
59,433 (+1,622)
Swap Dealers - Long / Short
52,713 (-2,336)
9,072 (+29)
Managed Money - Long / Short
56,940 (+1,054)
16,247 (-1,321)
Other Reportables - Long / Short
9,779 (-760)
48,890 (-697)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
78.850 +3.52%
on 08/28/23
86.125 -5.22%
on 09/20/23
+1.800 (+2.25%)
since 08/25/23
3-Month
77.575 +5.22%
on 06/30/23
86.750 -5.91%
on 08/01/23
+1.400 (+1.75%)
since 06/26/23
52-Week
68.625 +18.94%
on 05/26/23
93.750 -12.93%
on 02/21/23
-4.300 (-5.00%)
since 09/26/22

More Lean Hogs Quotes

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Most Recent Stories

More News
Hog Futures Red at Midday

Aside from the October contract’s 5c gain, front month hogs are trading 17 to 50 cents in the red for a turnaround Tuesday. USDA’s National Average Base Hog price was a nickel weaker to $77.54. The...

HEV23 : 81.625s (+0.12%)
HEZ23 : 72.350s (-0.24%)
KMV23 : 92.150 (-0.65%)
Cattle Falling Triple Digits

The feeder cattle futures market is down by nearly 2% across the active months. Sep contracts are $1 in the red to $5 losses in the other nearby contracts. Fat cattle are also weaker through Tuesday, with...

LEV23 : 184.800s (-1.16%)
LEZ23 : 188.475s (-1.44%)
LEG24 : 193.050s (-1.45%)
LEY00 : 183.000s (unch)
GFU23 : 252.600s (-0.50%)
GFV23 : 253.875s (-1.91%)
What Does McDonald's Tell Us About the Economy?

Can we get a read on the economy based on the Big Mac? Oddly enough, there is more than one theory that tells us that is indeed the case.

KO : 56.53 (-0.82%)
LEV23 : 184.800s (-1.16%)
MCD : 267.72 (-0.76%)
Soybean Futures Defend MAJOR Support. Is it Time to Buy?

Soybeans test and defend major 4-star support in yesterday's trade, taking prices back to our pivot pocket from 1300-1304. These are the next upside targets to keep an eye on

Cattle Closed Mixed on Monday

Cattle went home with mixed results following the Cattle on Feed report. The ’23 contracts were down by 10 to 12 cents, while the ’24 contracts closed up by as much as 35 cents. The feeders were 22...

LEV23 : 184.800s (-1.16%)
LEZ23 : 188.475s (-1.44%)
LEG24 : 193.050s (-1.45%)
GFU23 : 252.600s (-0.50%)
GFV23 : 253.875s (-1.91%)
Hogs Rebounded Out of the Weekend

After the hard drop to end last week, Monday’s hog trade ended off the highs but was still up 35 to 75 cents on the day. USDA’s National Average Base Hog price was a nickel weaker to $77.54. The CME...

HEV23 : 81.625s (+0.12%)
HEG24 : 75.750s (-0.46%)
KMV23 : 92.150 (-0.65%)
Cattle Closed Mixed on Monday

Cattle went home mixed on the first trade day of the week. The ’23 contracts were down by 10 to 12 cents, while the ’24 contracts closed up by as much as 35 cents. The feeders were 22 to 82 cents weaker...

LEV23 : 184.800s (-1.16%)
LEZ23 : 188.475s (-1.44%)
LEG24 : 193.050s (-1.45%)
GFU23 : 252.600s (-0.50%)
GFV23 : 253.875s (-1.91%)
Hogs Rebounded Out of the Weekend

After the hard drop to end last week, Monday’s hog trade ended off the highs but still up 35 to 75 cents on the day. USDA’s National Average Base Hog price was a nickel weaker to $77.54. The CME Lean...

HEV23 : 81.625s (+0.12%)
HEG24 : 75.750s (-0.46%)
KMV23 : 92.150 (-0.65%)
Hogs rebound

Hogs make low and bounce in lackluster trade

Cold Storage

Cold Storage - 2023-09-25

FCX23 : 256.875s (-2.22%)
GFX23 : 256.875s (-2.22%)
LCZ23 : 188.475s (-1.44%)
LEZ23 : 188.475s (-1.44%)
LHZ23 : 72.350s (-0.24%)
HEZ23 : 72.350s (-0.24%)
YKX23 : 16,625s (-1.31%)
BDU23 : 273.0000 (+0.50%)
OJX23 : 349.40s (+2.95%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 83.342
2nd Resistance Point 82.908
1st Resistance Point 82.267
Last Price 81.625s
1st Support Level 81.192
2nd Support Level 80.758
3rd Support Level 80.117

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52-Week High 93.750
Fibonacci 61.8% 84.152
Last Price 81.625s
Fibonacci 50% 81.188
Fibonacci 38.2% 78.223
52-Week Low 68.625

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