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Lean Hogs Pit Feb '23 (LHG23)

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Lean Hogs (Pit) Futures Market News and Commentary

Hog Futures Turn Red for Close

Front month lean hog futures gave back their initial gains on Friday and went into the weekend 17 to 45 cents in the red. For Feb, that ended the week as a net $1.05 drop. The USDA National Average Base Hog Price was down 84 cents to $86.61. The CME Lean Hog Index for 11/22 was 37 cents lower to $86.17. 

Weekly FAS data showed 45,768 MT of pork was sold for export during the week that ended 11/17. That was led by 18k MT sold to Mexico. 33,201 MT were shipped during the week, again with Mexico as the top destination. USDA had accumulated pork exports at 1.313 MMT through 11/17 – an 18% lag from last year’s pace. 

Pork cutout futures finished the last trade day of the holiday week with 27 to 65 cent losses. USDA estimated the week’s FI hog slaughter at 2.23m head through Saturday. That is below last week due to the Thanksgiving holiday, but is 32k head below the same week last year. USDA had the YTD hog slaughter at 112.977m head, a 2.9% lag behind last year’s pace.  

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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
02/14/23 (79 days)

Seasonal Chart

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

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Period Period Low Period High Performance
1-Month
86.425 +2.40%
on 11/04/22
91.000 -2.75%
on 10/26/22
-2.175 (-2.40%)
since 10/25/22
3-Month
77.275 +14.53%
on 10/04/22
92.150 -3.96%
on 09/20/22
+2.575 (+3.00%)
since 08/25/22
52-Week
76.550 +15.61%
on 11/26/21
92.950 -4.79%
on 08/15/22
+10.325 (+13.21%)
since 11/24/21

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Cattle Fade into Weekend

Feeder cattle closed off their lows, which had the front months down by triple digits, but still lower by 80 to 95 cents across the front months. Fat cattle were also red on Friday, but limited the pullback...

LEZ22 : 153.075s (-0.18%)
LEG23 : 155.125s (-0.19%)
LEJ23 : 158.975s (-0.09%)
GFF23 : 178.300s (-0.53%)
GFH23 : 181.550s (-0.44%)
Hog Futures Turn Red for Close

Front month lean hog futures gave back their initial gains on Friday and went into the weekend 17 to 45 cents in the red. For Feb, that ended the week as a net $1.05 drop. The USDA National Average Base...

HEZ22 : 83.775s (-0.21%)
HEJ23 : 94.025s (-0.61%)
KMZ22 : 92.200s (-1.07%)
Shootin' the Bull about slow trading

In my opinion, cattle feeders have been able to garner a higher price in the cash and futures market, with box prices believed having resumed a downward trend.  Futures traders continue to provide beneficial...

TFM Midday Update 11-25-2022

TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

Hogs Firm at Midday

So far for the shorter Friday session, the lean hog futures market is 27 to 45 cents higher. The USDA National Average Base Hog Price was down 84 cents to $86.61. The CME Lean Hog Index for 11/18 was $86.97,...

HEZ22 : 83.775s (-0.21%)
HEJ23 : 94.025s (-0.61%)
KMZ22 : 92.200s (-1.07%)
Red Midday in Cattle Market

So far for Friday the cattle futures market is down 10 to 35 cents, despite the strong cash market on Wednesday. USDA confirmed 55k head of cash cattle were sold in a push of business before the holiday....

LEZ22 : 153.075s (-0.18%)
LEG23 : 155.125s (-0.19%)
LEJ23 : 158.975s (-0.09%)
GFF23 : 178.300s (-0.53%)
GFH23 : 181.550s (-0.44%)
TFM Morning Update 11-25-2022

TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

Cattle Slid into Thanksgiving

Cattle futures settled with $0.42 to $1 losses ahead of the Thanksgiving break. Futures trading will resume with a normal start and early close today. Much of the cash trade for the week was concluded...

LEZ22 : 153.075s (-0.18%)
LEG23 : 155.125s (-0.19%)
LEJ23 : 158.975s (-0.09%)
GFF23 : 178.300s (-0.53%)
GFH23 : 181.550s (-0.44%)
Lean Hog Futures Faded on Wednesday

Front month lean hog futures ended Wednesday with losses. Feb was down the most with a $1.27 give back, and sits at a net 75 cent loss for the week to date. The other front months were 17 to 95 cents lower...

HEZ22 : 83.775s (-0.21%)
HEJ23 : 94.025s (-0.61%)
KMZ22 : 92.200s (-1.07%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 88.500
2nd Resistance Point 88.500
1st Resistance Point 88.500
Last Price 88.500s
1st Support Level 88.500
2nd Support Level 88.500
3rd Support Level 88.500

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52-Week High 92.950
Last Price 88.500s
Fibonacci 61.8% 86.685
Fibonacci 50% 84.750
Fibonacci 38.2% 82.815
52-Week Low 76.550

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