Daily Lean Hog Market Commentary
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 lean hog futures gave back gains from the previous day's session after failing to get out above the 50 and 100 day moving averages. The pullback was disappointing for the Bulls, but it didn't do much in terms of changing the technical landscape. We know that the gap from July 6th remains open with the spring lows coming in below that. We like leaning on the bullish side of things so long as those support levels can hold. We've mentioned the bullish seasonal play in recent reports, that is for the June contract, which fared much better in yesterday's session.
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****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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 lean hog futures gave back gains from the previous day's session after failing to get out above the 50 and 100 day moving averages. The pullback was disappointing for the Bulls, but it didn't do much in terms of changing the technical landscape. We know that the gap from July 6th remains open with the spring lows coming in below that. We like leaning on the bullish side of things so long as those support levels can hold. We've mentioned the bullish seasonal play in recent reports, that is for the June contract, which fared much better in yesterday's session.
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****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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