Hogs - Weekly Continuous: The gray vertical bars represent the expiration month of labeled contract and have prices of each contract as of today labeled. The deferred contracts can use the uptrend/downtrend lines to determine areas to be hedged. The June 21' high has provided a pivot for a down trend line that has acted as a strong area of resistance. Currently...
Continuous Hogs- Weekly: Currently plotting against the December contract. Uptrend lines off swing lows, and downtrend lines off swing highs. Creates areas to watch for action and reaction points.
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 96.00-112.00
Weighted Average: 104.81
Change from Prior Day: -2.02
Head Count:8,165
CME Lean Hog Index
8/29/22: 109.36
8/26/22: 111.26
Daily Hog Slaughter
475,000. Down 5,000 from last week but unchanged from the same day last year.
Technical Snapshot
Lean Hogs
October...
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...
Hogs Summary
Daily Direct Hogs Plant Delivered
Carcass Base Price
Range: 114.50-126.00
Weighted Average: 115.61
Change from Prior Day: -8.08
Head Count: 3,203
Daily Hog Slaughter
428,000. Down 30,000 from last week and 47,000 from last year.
Technical Snapshot
Lean Hogs
October lean hogs opened lower on concerns of slowing Chinese growth, but managed to claw...
Lean Hogs
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 114.00-136.00
Weighted Average: 123.69
Change from Prior Day: 2.32
Head Count: 6,089
Daily Hog Slaughter
440,000. Down 12,000 from last week and 24,000 from last year.
Commitments of Traders Update
Friday’s Commitments of Traders report showed that Managed Money were net...
Hogs
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 115.00-138.00
Weighted Average: 132.48
Change from Prior Day: 1.35
Head Count: 25,266
Daily Hog Slaughter
474,000. 5,000 more than last week and unchanged from last year.
Weekly Export Sales
Pork: Net sales of 21,500 MT for 2022 were down 31 percent from the previous week and 6...
CME:HE1! CBOT:ZC1! CBOT:ZM1!
On August 1st, USDA Daily Hog and Pork Report shows that benchmark Iowa Carcass Base Price averages $128/cwt. This is a 15% increase year-over-year, and a whopping 70% higher than the five-year average of $75. Is pork still affordable?
Meanwhile in the futures market, while August Lean Hog contract (HEQ2) is quoted at...
Lean Hogs
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 5,411 futures/options through July 19th. This expands their net long position to 45,435 contracts.
Technicals (October): October lean hogs were able to breakout above the top end of the range from May and June, this could propel prices back to the march...
*Cold storage report will be out tomorrow afternoon
Lean Hogs
Technicals (August): Lean hog futures finally showed some more conviction in their recent breakout move above significant resistance from 111-112ish. This opens the door to a potential test of first resistance, 116.325. The more significant resistance comes in closer to 120. The RSI (at the bottom of...
Lean Hogs
Technicals (August): Lean hog futures “broke out” above the upper end of their range, trading to their highest price since April 29th. The higher trade lacked conviction and follow through, which is keeping our excitement mute. There’s now a gap below the market that we will need to keep an eye on. Previous resistance will now act as our pivot pocket,...
Lean Hogs
Commitment of Traders Update: Friday’s Updated CoT report showed Managed Money were net buyers of 11,450 futures/options contracts through July 12th This expands their net long position to 39,934 contracts.
Technicals (August): August lean hog futures traded at the upper end of the two-month range last week. Resistance remains intact from 111.30-112.00....
Lean Hogs
Technicals (July): July lean hogs were able to catch a bid yesterday, but the Bulls still have some work to do to make up for the back half of last week’s trade. 110.50-111.10 is the first hurdle, but the bigger hurdle comes in at the 100-day moving average, 112.50.
Resistance: 112.50***, 114.175-114.825***, 120.325-121.075***
Pivot:...
Lean Hog has a gap below that has me intrigued but I am not sure how or if it will fill. I will also note this interesting but obvious correlation that I found with oil. We have some interesting inverse correlations on 2/18, 3/17, 3/25 among other days but otherwise similar chart patterns between the two. I am not sure how or why lean hogs front ran the oil pump...
CME
