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Lean Hogs Feb '24 (HEG24)

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Lean Hogs Futures Market News and Commentary

Hogs Slipping Lower on Thursday

Lean hogs are weaker so far at midday, with contracts down 10 to 55 cents.  The USDA National Base Hog price was reported not reported on Thursday morning due to light volume. The CME Lean Hog Index was $90.77 on July 23, up 69 cents from the previous day. 

This morning’s Export Sales update showed 30,200 MT of pork sold in the week that ended on 7/18, a 28% increase from last week. Shipments totaled 32,900 MT a 3% jump from the week prior.

USDA showed a firmer tone for the FOB plant pork cutout values on Thursday morning, with the average carcass quote up $2.33 at $107.09 per hundred weight. That gain came from all but the rib, as the butt led the way, up $8.32. USDA estimated Wednesday’s FI hog slaughter at 479,000 head, with the WTD total at 1.413 million head. That is down 21,000 head from last year and 16,962 head above year ago.

Aug 24 Hogs  are at $93.675, down $0.100,

Oct 24 Hogs  are at $77.500, down $0.525

Dec 24 Hogs  is at $69.725, down $0.4... 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
02/14/24
Expiration Date
02/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
99,723 (-5,953)
71,846 (-2,233)
Non-Commercials - Long / Short
81,372 (+3,990)
107,765 (+1,035)
Producers - Long / Short
23,936 (+74)
53,605 (-2,434)
Swap Dealers - Long / Short
61,479 (-6,834)
3,933 (-606)
Managed Money - Long / Short
50,561 (+3,070)
64,540 (+5,215)
Other Reportables - Long / Short
30,811 (+920)
43,225 (-4,180)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
70.025 +7.35%
on 01/17/24
76.675 -1.96%
on 02/01/24
+3.275 (+4.55%)
since 01/12/24
3-Month
64.575 +16.42%
on 01/03/24
76.675 -1.96%
on 02/01/24
-0.750 (-0.99%)
since 11/14/23
52-Week
64.575 +16.42%
on 01/03/24
88.350 -14.91%
on 02/21/23
-12.350 (-14.11%)
since 02/14/23

More Lean Hogs Quotes

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Most Recent Stories

More News
Shootin' the Bull about converging basis

The cash trading this week has seemingly caused futures to run towards it, converging basis. Without expectations of higher cash, I would not expect today's gains to hold.  The push to new highs in August...

Cold Storage

Cold Storage - 2024-07-25

GFQ24 : 258.625s (+0.58%)
LEV24 : 188.600s (+1.25%)
HEV24 : 77.800s (-0.29%)
YKU24 : 18,555s (-0.70%)
BDQ24 : 310.7500 (+0.24%)
OJU24 : 420.10s (-0.91%)
Livestock Slaughter

Livestock Slaughter - 2024-07-25

GFQ24 : 258.625s (+0.58%)
LEV24 : 188.600s (+1.25%)
HEV24 : 77.800s (-0.29%)
YKU24 : 18,555s (-0.70%)
Corn and Soybeans Rally Into the Last Trading Day of the Week

Corn and soybeans were higher in today's trade following better than expected new crop export data. These are the levels we are keeping an eye on as we head into Friday's trade.

Cattle Rallying on Thursday, with Stronger Cash Bids

Live cattle futures are trading with midday strength, as contracts are up 50 cents to $2.35. Cash trade has been quiet this week, with Thursday’s Central Stockyards Fed Cattle Exchange auction showing...

LEQ24 : 188.900s (+1.07%)
LEV24 : 188.600s (+1.25%)
LEZ24 : 188.900s (+0.87%)
GFQ24 : 258.625s (+0.58%)
GFU24 : 257.900s (+0.47%)
GFV24 : 257.075s (+0.27%)
Hogs Slipping Lower on Thursday

Lean hogs are weaker so far at midday, with contracts down 10 to 55 cents. The USDA National Base Hog price was reported not reported on Thursday morning due to light volume. The CME Lean Hog Index was...

HEQ24 : 93.775s (unch)
HEV24 : 77.800s (-0.29%)
HEZ24 : 69.950s (-0.36%)
Hogs Shift Focus to Thursday

Lean hogs posted gains of 12 to 90 cents across the nearby contracts on Wednesday. The USDA National Base Hog price was reported at $85.30 in the Wednesday afternoon summary, up 95 cents. The CME Lean...

HEQ24 : 93.775s (unch)
HEV24 : 77.800s (-0.29%)
HEZ24 : 69.950s (-0.36%)
Cattle Traders Look to Thursday as Cash Trade Starts Slow

Live cattle futures posted 15 to 60 cent higher closes in the front months, with other contracts heading home lower on Wednesday. Cash trade has yet to kick off this week, with Wednesday’s Central Stockyards...

LEQ24 : 188.900s (+1.07%)
LEV24 : 188.600s (+1.25%)
LEZ24 : 188.900s (+0.87%)
GFQ24 : 258.625s (+0.58%)
GFU24 : 257.900s (+0.47%)
GFV24 : 257.075s (+0.27%)
Cotton and White Sugar is at their lowest carry yield scores for the past 52 weeks. Live Cattle is at its highest.

I am planning to sell a Live Cattle calendar this week and continue to hold a long White Sugar calendar spread

Hogs Extend Strength into Wednesday

Lean hogs posted gains 12 to 90 cent across the nearby contracts on Wednesday. The USDA National Base Hog price was reported at $85.30 in the Wednesday afternoon summary, up 95 cents. The CME Lean Hog...

HEQ24 : 93.775s (unch)
HEV24 : 77.800s (-0.29%)
HEZ24 : 69.950s (-0.36%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 76.192
2nd Resistance Point 75.708
1st Resistance Point 75.442
Last Price 75.175s
1st Support Level 74.692
2nd Support Level 74.208
3rd Support Level 73.942

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52-Week High 88.350
Fibonacci 61.8% 79.268
Fibonacci 50% 76.462
Last Price 75.175s
Fibonacci 38.2% 73.657
52-Week Low 64.575

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