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Lean Hogs Jul '23 (HEN23)
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Lean Hogs Futures Market News and Commentary

Hogs Finish Friday on Both Sides of UNCH

The Friday closes reflected the week’s net move, as June and August went into the weekend with 57 and 30 cent losses respectively to the deferred contracts’ 12 to 50 cent gains. July hogs were down $1.57 from Friday to Friday, where Dec contracts closed a net 72 cents higher. USDA’s National Average Base Hog price for Friday afternoon was $93.04 after a $1.75 drop. The 6/21 CME Lean Hog Index was another 85 cents stronger to $90.47.  

The Commitment of Traders report showed managed money firms had flipped to net long in hogs during the week ending 6/20. Short covering flipped the group from 4.6k contracts net short to 7.4k contracts net long. 

The monthly USDA Cold Storage data had pork supplies at 525.871 million lbs for the end of May. That was a 7.3% reduction from April and was down 3.7% from May ’22. Belly stocks specifically were 82.545m lbs, up from 81.3 in April and from 56.7 in May ’22. 

The weekly FAS data release had 28,654 MT of pork sold for export dur... 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
$1,925/1,750
First Notice Date
07/17/23 (24 days)
Expiration Date
07/17/23 (24 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 20, 2023

View Chart Details
Commercials - Long / Short
77,522 (-8,346)
56,763 (-1,759)
Non-Commercials - Long / Short
56,562 (-1,502)
75,289 (-9,206)
Producers - Long / Short
16,984 (-6,612)
48,805 (+1,290)
Swap Dealers - Long / Short
56,253 (+1,133)
3,673 (-182)
Managed Money - Long / Short
47,380 (+2,859)
39,561 (-10,806)
Other Reportables - Long / Short
9,182 (-4,361)
35,728 (+1,600)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
74.025 +23.30%
on 05/26/23
96.300 -5.22%
on 06/21/23
+10.300 (+12.72%)
since 05/23/23
3-Month
74.025 +23.30%
on 05/26/23
96.675 -5.59%
on 03/27/23
-0.100 (-0.11%)
since 03/23/23
52-Week
74.025 +23.30%
on 05/26/23
109.975 -17.00%
on 12/27/22
-8.350 (-8.38%)
since 06/23/22

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Most Recent Stories

More News
Hogs Finish Friday on Both Sides of UNCH

The Friday closes reflected the week’s net move, as June and August went into the weekend with 57 and 30 cent losses respectively to the deferred contracts’ 12 to 50 cent gains. July hogs were down...

HEN23 : 91.275s (-0.63%)
HEV23 : 79.975s (+0.16%)
KMN23 : 96.350s (-0.62%)
Friday Cattle Futures Close Mixed

The live cattle futures market ended the day with nearby losses of 15 to 37 cents, but deferred contract gains of less than 10 cents. USDA called the week’s cash market at $184 for the WCB, and $180...

LEM23 : 177.500s (-0.08%)
LEQ23 : 170.775s (-0.22%)
LEV23 : 174.500s (-0.10%)
GFQ23 : 233.950s (+1.42%)
GFU23 : 237.700s (+1.35%)
Shootin' the Bull about bad luck

In my opinion, if it weren't for bad luck, I'd have no luck at all.  My comments last week of a Fed in favor of letting the economy run hot, in an attempt to quell inflation, did not materialize.

Friday Hog Futures Trading Mixed at Midday

So far through the Friday session front month lean hog futures are within 30 cents of UNCH. The October and December contracts are lightly in the red. USDA’s National Average Morning Base Hog price was...

HEN23 : 91.275s (-0.63%)
HEV23 : 79.975s (+0.16%)
KMN23 : 96.350s (-0.62%)
Mixed Cattle Market through Midday

With a week left in the contract and no deliveries thus far, June cattle futures are down by 15 cents through midday. The August and October contracts are also 10-20 cents weaker as the deferred futures...

LEM23 : 177.500s (-0.08%)
LEQ23 : 170.775s (-0.22%)
LEV23 : 174.500s (-0.10%)
LEY00 : 180.000s (unch)
GFQ23 : 233.950s (+1.42%)
GFU23 : 237.700s (+1.35%)
Hog Market Net Red for the Week

Lean hog prices dropped by triple digits in the lead months with 3% losses for each July and August. That flipped the lead month contract back to net red for the week’s move. Profit taking was the main...

HEN23 : 91.275s (-0.63%)
HEV23 : 79.975s (+0.16%)
KMN23 : 96.350s (-0.62%)
Thursday Cattle Recovered Triple Digits

Live cattle futures closed triple digits stronger past the June’s 40c gain. The August was a $6.50 discount to June ahead of next Friday’s expiration. The feeder cattle market closed with $2.95 to...

LEM23 : 177.500s (-0.08%)
LEQ23 : 170.775s (-0.22%)
LEV23 : 174.500s (-0.10%)
GFQ23 : 233.950s (+1.42%)
GFU23 : 237.700s (+1.35%)
Hog Futures Collapsed on Thursday

Lean hog prices dropped by triple digits in the lead months with 3% losses for each July and August. That flipped the lead month contract back to net red for the week’s move. USDA’s National Average...

HEN23 : 91.275s (-0.63%)
HEV23 : 79.975s (+0.16%)
KMN23 : 96.350s (-0.62%)
Cattle Recover Triple Digits

Live cattle futures closed triple digits stronger past the June’s 40c gain. The August was a $6.50 discount to June ahead of next Friday’s expiration. The feeder cattle market closed with $2.95 to...

LEM23 : 177.500s (-0.08%)
LEQ23 : 170.775s (-0.22%)
LEV23 : 174.500s (-0.10%)
GFQ23 : 233.950s (+1.42%)
GFU23 : 237.700s (+1.35%)
Shootin' the Bull about a wide positive basis in fats

Fat cattle futures were firmer as the positive basis width may have grown a little too wide at the moment.  Other than this, there is not a great deal to discuss in the fat market. 

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 96.033
2nd Resistance Point 94.892
1st Resistance Point 93.083
Last Price 91.275s
1st Support Level 90.133
2nd Support Level 88.992
3rd Support Level 87.183

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52-Week High 109.975
Fibonacci 61.8% 96.242
Fibonacci 50% 92.000
Last Price 91.275s
Fibonacci 38.2% 87.758
52-Week Low 74.025

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