The Bullish Seasonal for Lean Hogs is Off to a Great Start

CME:HE1!   Lean Hogs Futures
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT )
Carcass Base Price
Range: 100.00-120.00
Weighted Average: 106.83
Change from Prior Day: -2.52
Head Count: 7,286

Daily Hog Slaughter
4800,000. Unchanged from last week and 3,000 less than the same week last year.

Technical Snapshot
Lean Hogs
Lean hogs have had a solid performance over the last two sessions, getting the bullish seasonal trade off to a good start (the seasonal is for the June contract, contact us for more information). The market got up to the 50 and 100 day moving averages but wasn't able to chew through that resistance band from 94.225-94.975. A breakout above that pocket could open the door for another leg higher, with the next resistance pocket coming in closer to 98.00.

Resistance: 98.05-98.25***,100.375-100.825***, 101.65**
Pivot: 94.225-94.975
Support: 91.50**, 89.40-90.225***, 86.825-87.40****

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