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Lean Hogs Jun '23 (HEM23)
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Lean Hogs Futures Market News and Commentary

Mixed Close for Hog Futures

Lean hogs were mixed with gains for the deferred contracts and 2 to 87 cent losses in the summer months. July futures were still at a net $9.97 premium to Dec at the close. USDA’s National Average Base Hog price was $1.64 weaker to $82.19. The CME Lean Hog Index for 5/22 was $80.09, up by 52 cents. 

Monthly Cold Storage data had 565.5m lbs of pork in the freezer for April. That was up from 533.9m lbs last month and from 533.4m lbs in April ’21. Belly stocks specifically rose 4.2m lbs through the month to 81.2 million. 

Pork cutout futures settled mixed as well with July and August UNCH and June down by $1.27. USDA’s National Pork Carcass Cutout Value was $2.63 lower to $80.87 in the PM report. USDA estimated FI hog slaughter at 1.426m head for the week through Wednesday. That is 26k head above last week’s pace and is up 15k from the same week last year.  

 

Jun 23 Hogs  closed at $79.800, down $0.875,

Jul 23 Hogs  closed at $80.825, down $0.150

Ju... 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
06/14/23 (20 days)
Expiration Date
06/14/23 (20 days)

Commitment of Traders Positions as of May 16, 2023

View Chart Details
Commercials - Long / Short
90,332 (+4,337)
63,709 (+1,451)
Non-Commercials - Long / Short
59,120 (-2,461)
87,854 (+198)
Producers - Long / Short
25,751 (+1,116)
50,348 (-109)
Swap Dealers - Long / Short
54,495 (+1,502)
3,275 (-159)
Managed Money - Long / Short
44,659 (-1,705)
68,117 (-198)
Other Reportables - Long / Short
14,461 (-756)
19,737 (+396)
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Price Performance

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Period Period Low Period High Performance
1-Month
79.400 +0.50%
on 05/24/23
92.000 -13.26%
on 04/28/23
-7.550 (-8.64%)
since 04/24/23
3-Month
79.400 +0.50%
on 05/24/23
104.100 -23.34%
on 02/27/23
-23.675 (-22.88%)
since 02/24/23
52-Week
79.400 +0.50%
on 05/24/23
109.775 -27.31%
on 12/27/22
-22.200 (-21.76%)
since 05/24/22

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Most Recent Stories

More News
Live Cattle Recover Early Morning Losses

Live cattle struggled to find their footing to start today's trade, but managed to stage a strong recovery to finish within a stone's throw of a closing contract high.

Mixed Close for Hog Futures

Lean hogs were mixed with gains for the deferred contracts and 2 to 87 cent losses in the summer months. July futures were still at a net $9.97 premium to Dec at the close. USDA’s National Average Base...

Midweek Rally for Cattle Futures

Live cattle ended the session ~40 cents off their highs on $0.60 to $1.82 gains. The June contract flipped back to net positive for the week’s net move after fading Monday and Tuesday, and saw a new...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)
Grains - Closing Prices and Market Recap (corn, soybeans, and wheat)

It was a bit of a mixed bag in today's grain trade, with corn higher, beans little changed, and wheat under pressure.

Shootin' the Bull about beef movement over the holiday

A soft start ended on a firm note this afternoon.  Packers bid higher to acquire cattle.  The upcoming three day weekend will be interesting to see what movement of beef is. June was able to make a...

Hogs Mixed at Midday

The back month futures are trading 30 to 60 cents higher at midday, as the summer month contracts are fading with 12 to 77 cent losses. The July contract is still at a $10.10 premium to December contracts....

HEM23 : 79.800s (-1.08%)
HEQ23 : 80.400s (-0.03%)
KMM23 : 83.275s (-1.51%)
Cattle Flipping Net Higher for the Week

After fading Monday and Tuesday, the midweek cattle futures market is back up by triple digits and into the black for the week’s net move. The Wednesday FCE auction had 828 head listed and sold 396 TX...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
LEY00 : 170.000s (unch)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)
Will Profit Taking in Cattle Continue?

The lack of new news following last week's Cattle on Feed report has prompted some long liquidation in live cattle in the first two days of the week. Will today mark a third day of profit taking?

Mostly Lower Hog Futures on Tuesday

Lean hogs staged an afternoon recovery that left June nearly $1 off the low and turned August and October contracts higher for the day. The deferred contracts stayed 12 to 30 cents weaker by the Tuesday...

HEM23 : 79.800s (-1.08%)
HEQ23 : 80.400s (-0.03%)
KMM23 : 83.275s (-1.51%)
Cattle Faded on Tuesday

Live cattle futures were down 32 cents to $1.02 on the Tuesday session. August was the weak link and is now at a $1.70 discount to June and a $4.60 discount to the October contract. Tuesday’s FCE auction...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 83.125
2nd Resistance Point 82.300
1st Resistance Point 81.050
Last Price 79.800s
1st Support Level 78.975
2nd Support Level 78.150
3rd Support Level 76.900

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52-Week High 109.775
Fibonacci 61.8% 98.172
Fibonacci 50% 94.588
Fibonacci 38.2% 91.003
Last Price 79.800s
52-Week Low 79.400

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