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Lean Hogs May '24 (HEK24)
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Lean Hogs Futures Market News and Commentary

Hog Futures Close Mid-Range after Red Thursday

Front month hogs, past the Feb contract, gapped lower at the day session open and spent the whole day working in the red. At the close futures were off their daily lows but still down by 52 to 75 cents. Feb futures were 7 cents weaker on the day. USDA’s National Average Base Hog price was $1.31 weaker in the PM update to $65.06. The CME Lean Hog Index was $74.02 on 2/6, up by another 16 cents.  

The FAS Export Sales data had pork bookings at 39.2k MT for the week that ended 2/1. That was a decrease from 43k MT the week prior, but was still 36% above the same week last year. Pork shipments from the week were 41.8k MT, for a yearly total of 149.5k MT. that compares to 143.4k MT last year. 

Updated WASDE data from WAOB showed US pork production estimated at 27.88 million lbs for 2024, a 90 mil lb redaction from the January report. Quarter 2 remained, steady, but all others were cut. 

USDA’s National Pork Carcass Cutout Value increased by $2.37 to $86.36 on Thursday af... 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
05/14/24 (96 days)
Expiration Date
05/14/24 (96 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 30, 2024

View Chart Details
Commercials - Long / Short
84,878 (+6,924)
70,082 (+20,149)
Non-Commercials - Long / Short
73,083 (+12,090)
82,877 (-1,978)
Producers - Long / Short
20,924 (+1,574)
60,641 (+18,117)
Swap Dealers - Long / Short
59,483 (+4,956)
4,970 (+1,638)
Managed Money - Long / Short
52,378 (+7,328)
26,431 (-16,127)
Other Reportables - Long / Short
20,705 (+4,762)
56,446 (+14,149)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
83.100 +3.28%
on 01/17/24
89.575 -4.19%
on 01/31/24
+1.875 (+2.23%)
since 01/08/24
3-Month
79.250 +8.30%
on 01/02/24
89.575 -4.19%
on 01/31/24
-0.375 (-0.44%)
since 11/08/23
52-Week
79.250 +8.30%
on 01/02/24
97.825 -12.27%
on 02/22/23
-10.725 (-11.11%)
since 02/08/23

More Lean Hogs Quotes

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Most Recent Stories

More News
Cattle Set New Highs for the Move on Thursday

Cattle futures were back to challenging the 61.8% retracement from their LoC highs to the Dec low on Thursday. The board settled off the session highs, but still triple digits higher with gains of as much...

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
Hog Futures Close Mid-Range after Red Thursday

Front month hogs, past the Feb contract, gapped lower at the day session open and spent the whole day working in the red. At the close futures were off their daily lows but still down by 52 to 75 cents....

HEG24 : 73.300s (-0.10%)
HEK24 : 85.825s (-0.61%)
KMG24 : 83.800s (-0.15%)
Grain Markets Digest Today's USDA Report

With the USDA report behind us, what's next for the markets?

USDA Cattle Report Clickbait?

Cattle Supplies are Tight, but Demand is not Guaranteed

Triple Digit Strength for Cattle Futures at Midday

The cattle futures market is currently $0.77 to $1.52 higher on Thursday. Feeders are also up by $0.82 to $1.80 so far. CME has no deliveries listed through Wednesday with the oldest dated long at 4/18/23....

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
LEY00 : 178.740s (unch)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
Hogs Continuing Lower at Thursday’s Midday

Front month lean hog futures are trading 15 to 92 cents weaker so far, as OI continues to decline in the Feb contract. USDA’s National Average Base Hog price was listed at $64.60 for Thursday morning,...

HEG24 : 73.300s (-0.10%)
HEJ24 : 80.350s (-0.92%)
KMG24 : 83.800s (-0.15%)
WASDE

WASDE - 2024-02-08

ZSH24 : 1192-2 (-0.10%)
ZSPAUS.CM : 11.4028 (+0.39%)
ZSBAUS.CM : -0.5321 (-0.15%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSH24 : 3,612s (-0.61%)
XTH24 : 4,784s (+0.19%)
ZCH24 : 431-6 (-0.35%)
ZCPAUS.CM : 4.1370 (-0.27%)
ZCBAUS.CM : -0.1955 (-0.72%)
XVK24 : 2,408s (unch)
XEU24 : 65.05 (+0.34%)
All Eyes on Today’s USDA Report

Grain markets are quiet in the early morning trade as traders gear up for today’s USDA report.

Cattle Futures Traders Get Export Sales and WASDE Data today

Front month fat cattle prices were 77c to $1.27 weaker on Wednesday, with Feb at $182.22. CME has no deliveries listed through Wednesday with the oldest dated long at 4/18/23. There were no cash trades...

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
USDA to Show Pork S&D Estimates today

Lean hog futures tried to firm up after a weak start to the week, though prices faded into the close and ended mixed within 40c of UNHC. USDA’s National Average Base Hog price increased by 92 cents to...

HEG24 : 73.300s (-0.10%)
HEK24 : 85.825s (-0.61%)
KMG24 : 83.800s (-0.15%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 87.583
2nd Resistance Point 86.942
1st Resistance Point 86.383
Last Price 85.825s
1st Support Level 85.183
2nd Support Level 84.542
3rd Support Level 83.983

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52-Week High 97.825
Fibonacci 61.8% 90.729
Fibonacci 50% 88.537
Fibonacci 38.2% 86.346
Last Price 85.825s
52-Week Low 79.250

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