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Hog Futures Technical Analysis - Hog Futures Trading: 2020-06-12
Lean Hog Technical Analysis Summary
Below 51.37
Sell Stop
Above 56.92
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(50) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
Lean Hog Chart Analysis
Lean Hog Technical Analysis
On the daily timeframe #C-LHOG: D1 has breached below the 50-day moving average MA(50), which is falling itself. We believe the bearish momentum will continue as the price breaches below 51.37. A pending order to sell can be placed below that level. The stop loss can be placed above 56.92. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Lean Hog
US pork supply is increasing with the resumption of operation of US meat processing plants. Will the lean hog price continue falling?
Pork supply is recovering gradually as meat plants across US ramp up production following slowdowns after coronavirus outbreak. Meatpackers slaughtered 450,000 hogs on Monday, up from 417,000 a week ago according to US Department of Agriculture. However, in March they slaughtered up to 498,000 a day. And farmers still have a backlog of livestock after animals could not be slaughtered due to temporarily shut slaughterhouses during the coronavirus outbreak. The number of livestock being killed each day has rebounded from April and May, increasing the supply of pork. Rising pork supply is bearish for LHOG.
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