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Lean Hogs Jun '24 (HEM24)

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Lean Hogs Futures Market News and Commentary

Hogs Push Higher on Friday

Lean hogs saw gains of 20 to 87 cents across most contracts on Friday, with May down 25 cents and sticking close to the index ahead of next week’s expiration.  USDA’s National Average Base Hog negotiated price was down 94 cents in the Friday PM report at $88.41. The CME Lean Hog Index was unchanged on May 8 at $91.28.

USDA’s quarterly production estimates for pork saw an overall decrease to the 2024 number by 26 million lbs to 28.064 billion. Much of that was in Q1, Q3, and Q4, with Q2 seeing an increase.

Weekly Commitment of Traders data showed specs bailing on 20,208 contracts from their net long position to 65,171 contracts as of 5/7.

USDA’s National Pork Carcass Cutout Value was back up $1.34 in the Friday afternoon print at $99.77. The butt ($7.13) led the way higher, with the ham ($3.42) and belly ($1.46) the other two primals reported higher. USDA estimated this week’s federally inspected hog slaughter at 2.39 million head through Saturday. That is 17,000 he... 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
06/14/24 (33 days)
Expiration Date
06/14/24 (33 days)

Seasonal Chart

Lean Hogs Jun '24
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
103,759 (+1,500)
135,522 (-9,994)
Non-Commercials - Long / Short
100,612 (-16,056)
62,256 (-2,474)
Producers - Long / Short
18,674 (-869)
114,606 (-9,076)
Swap Dealers - Long / Short
73,890 (+2,419)
9,721 (-868)
Managed Money - Long / Short
76,246 (-17,369)
10,208 (+3,476)
Other Reportables - Long / Short
24,366 (+1,313)
52,048 (-5,950)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
97.225 +1.18%
on 05/08/24
108.550 -9.37%
on 04/23/24
-7.175 (-6.80%)
since 04/10/24
3-Month
93.875 +4.79%
on 02/13/24
109.650 -10.28%
on 04/10/24
+3.375 (+3.55%)
since 02/09/24
52-Week
87.550 +12.36%
on 01/02/24
109.650 -10.28%
on 04/10/24
+5.125 (+5.50%)
since 05/10/23

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Grains/Livestock Overview

Educational and Actionable information using Fibonacci & W.D. Gann analysis.

ZCN24 : 469-6s (+2.90%)
ZSN24 : 1219-0s (+0.87%)
ZWN24 : 663-4s (+4.08%)
HEM24 : 98.375s (+0.67%)
LEM24 : 176.150s (+0.11%)
GFQ24 : 250.900s (-0.06%)
Russian freeze, USDA reports support wheat and corn bulls

April CPI released on Wednesday

Hogs and Cattle Eke Out Small Gains

Feeders slightly lower

Pure Hedge - Livestock and Grain

Bearish WASDE For Soybeans. I Would Not Want To Be Long.

Hogs Push Higher on Friday

Lean hogs saw gains of 20 to 87 cents across most contracts on Friday, with May down 25 cents and sticking close to the index ahead of next week’s expiration. USDA’s National Average Base Hog negotiated...

HEK24 : 91.725s (-0.27%)
HEM24 : 98.375s (+0.67%)
HEN24 : 101.450s (+0.40%)
Live Cattle Turn Around to Close Friday Higher

Live cattle saw initial weakness on Friday, as contracts closed with gains of 20 to 55 cents. Cash was mixed around this week, with the South seeing action anywhere from $183-185, and the North at $186-187....

LEM24 : 176.150s (+0.11%)
LEQ24 : 174.125s (+0.23%)
LEV24 : 177.425s (+0.24%)
GFK24 : 238.800s (+0.06%)
GFQ24 : 250.900s (-0.06%)
GFU24 : 251.975s (-0.04%)
Shootin' the Bull about recognition

In my opinion, some changes were noticed this week.  Of the one most notable was further recognition of the agenda in place by others.  As the impact from becomes more obvious, it has begun to make cattle...

Cattle Mixed Around on Friday

Live cattle are posting mixed trade on Friday, as contracts are down 55 cents to 22 higher across the board. Cash trade has been slow to develop this week, with trade reported this morning at $184-185...

LEM24 : 176.150s (+0.11%)
LEQ24 : 174.125s (+0.23%)
LEV24 : 177.425s (+0.24%)
GFK24 : 238.800s (+0.06%)
GFQ24 : 250.900s (-0.06%)
GFU24 : 251.975s (-0.04%)
Hogs Mostly Higher on Friday

Lean hogs are showing 60 cent to $1.02 stronger trade on Friday , with May down 27 cents and sticking close to the index ahead of next week’s expiration. USDA’s National Average Base Hog negotiated...

HEK24 : 91.725s (-0.27%)
HEM24 : 98.375s (+0.67%)
HEN24 : 101.450s (+0.40%)
WASDE

WASDE - 2024-05-10

ZSN24 : 1219-0s (+0.87%)
ZSPAUS.CM : 11.5612 (+0.86%)
ZSBAUS.CM : -0.6287 (-1.04%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,068s (-1.48%)
XTN24 : 4,630s (-0.86%)
ZCN24 : 469-6s (+2.90%)
ZCPAUS.CM : 4.4617 (+2.93%)
ZCBAUS.CM : -0.2357 (-2.39%)
XVN24 : 2,446s (-0.24%)
XEU24 : 62.36s (+0.24%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 101.783
2nd Resistance Point 100.792
1st Resistance Point 99.583
Last Price 98.375s
1st Support Level 97.383
2nd Support Level 96.392
3rd Support Level 95.183

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52-Week High 109.650
Fibonacci 61.8% 101.208
Fibonacci 50% 98.600
Last Price 98.375s
Fibonacci 38.2% 95.992
52-Week Low 87.550

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