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Lean Hogs Feb '24 (HEG24)

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Lean Hogs Futures Market News and Commentary

Hogs Rally on Friday

Lean Hog futures posted gains of 17 cents to $1.02 on Friday, as Dec was up $2.175 on the week. The national average base hog negotiated price was reported at $82.72 on Friday afternoon. The CME Lean Hog Index was reported at $87.44 on November 20, down another 39 cents from the previous day. 

Commitment of Traders data showed spec traders in lean hog futures and options trimming back 5,371 contracts from their record net long to 115,590 contracts by November 19. 

Year to date pork shipments have totaled 1.475 MT according to Export Sales data, which is up 6.2% from a year ago at the same time. Adding in unshipped sales for the total commitments show 1.654 MMT, which is 1.1% larger than last year.

USDA’s FOB plant pork cutout value reported back lower on Friday afternoon, down $1.30 at $91.77 per cwt. The picnic primal was reported higher by 2.83, with the others down in a range of 74 cents to $6.68, led by the rib. USDA estimated the weekly FI hog slaughter at 2.5... 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 Nov 19, 2024

View Chart Details
Commercials - Long / Short
102,204 (+3,999)
164,505 (-1,543)
Non-Commercials - Long / Short
157,401 (-7,865)
85,419 (-3,865)
Producers - Long / Short
23,405 (+2,623)
147,847 (-2,745)
Swap Dealers - Long / Short
69,410 (+768)
7,269 (+594)
Managed Money - Long / Short
129,803 (-5,908)
6,708 (-1,593)
Other Reportables - Long / Short
27,598 (-1,957)
78,711 (-2,272)
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

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Live cattle futures posted gains of 22 cents to $1.175 on Friday, led by Dec to keep up with cash. On the week, the contracts was up $3.825. Cash trade settled in this week at $186-188, with most trade...

LEJ25 : 189.950s (+0.22%)
LEZ24 : 186.775s (+0.63%)
LEG25 : 188.200s (+0.41%)
GFF25 : 254.300s (+0.34%)
GFH25 : 253.125s (+0.41%)
GFJ25 : 254.350s (+0.48%)
Hogs Rally on Friday

Lean Hog futures posted gains of 17 cents to $1.02 on Friday, as Dec was up $2.175 on the week. The national average base hog negotiated price was reported at $82.72 on Friday afternoon. The CME Lean Hog...

HEZ24 : 81.675s (+1.08%)
HEG25 : 85.675s (+1.21%)
HEJ25 : 89.825s (+1.01%)
Cattle on Feed

Cattle on Feed - 2024-11-22

GFF25 : 254.300s (+0.34%)
LEG25 : 188.200s (+0.41%)
Cattle Posting Strength Ahead of Cattle on Feed Data

Live cattle futures are posting midday gains of 15 to 60 cents so far on Friday. The Central Stockyards Fed Cattle Exchange online auction showed sales of 587 head on the 2,344 head listed on Friday morning....

LEJ25 : 189.950s (+0.22%)
LEZ24 : 186.775s (+0.63%)
LEG25 : 188.200s (+0.41%)
GFF25 : 254.300s (+0.34%)
GFH25 : 253.125s (+0.41%)
GFJ25 : 254.350s (+0.48%)

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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