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Lean Hogs May '24 (HEK24)

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Lean Hogs Futures Market News and Commentary

Hogs Rallying on Thursday

Lean hogs are posting a $1.02 to $1.45 rally in the front months on Thursday. USDA’s National Average Base Hog negotiated price was up 40 cents on Thursday AM at 89.36. The CME Lean Hog Index was back up 47 cents on May 14 at $91.76.

Pork sales in the week of May 9 totaled 21,105 MT according to FAS Export Sales data. That was the lowest total since last July. Export shipments were pegged at 33,160 MT for that same week, an 8-week low.

USDA’s National Pork Carcass Cutout Value was back down 76 cents in the Thursday morning report at $100.94. The picnic, belly, ham, and rib primals were in a range of $1.13 to $3.96 lower, with the rest of the primals reported higher. USDA estimated Wednesday’s federally inspected hog slaughter at 480,000 head, taking the week to date total to 1.421 million head. That is 15,000 head below last week but 18,978 head above the same week last year.

Jun 24 Hogs  are at $98.800, up $1.300,

Jul 24 Hogs  are at $102.025, up $1.150

<... 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
Expiration Date
05/14/24 (expired)

Seasonal Chart

Lean Hogs May '24
Average Price Chart for 5 Prior May 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
91.400 +0.46%
on 05/13/24
98.975 -7.22%
on 04/23/24
-2.050 (-2.18%)
since 04/12/24
3-Month
88.400 +3.87%
on 02/16/24
99.725 -7.92%
on 04/10/24
+3.325 (+3.76%)
since 02/14/24
52-Week
79.250 +15.87%
on 01/02/24
99.725 -7.92%
on 04/10/24
+5.125 (+5.91%)
since 05/12/23

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Lean hogs settled the Wednesday session on a mixed note, as front months were down 5 to 82 cents, with the other 24 contracts steady to 27 cents higher. USDA’s National Average Base Hog negotiated price...

HEM24 : 98.375s (+0.90%)
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GFK24 : 244.850s (+0.70%)
GFQ24 : 257.350s (+0.58%)
GFU24 : 258.400s (+0.56%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 92.108
2nd Resistance Point 91.992
1st Resistance Point 91.908
Last Price 91.760s
1st Support Level 91.708
2nd Support Level 91.592
3rd Support Level 91.508

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52-Week High 99.725
Fibonacci 61.8% 91.904
Last Price 91.760s
Fibonacci 50% 89.488
Fibonacci 38.2% 87.071
52-Week Low 79.250

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