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Hog Futures Technical Analysis - Hog Futures Trading: 2021-09-28
Lean Hog Technical Analysis Summary
Above 83.6
Buy Stop
Below 75.7
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Lean Hog Chart Analysis
Lean Hog Technical Analysis
On the daily timeframe, LHOG: D1 has exceeded the downtrend resistance line. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if LHOG rises above its latest high: 83.6. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal and the last two lower fractals: 75.7. After opening a pending order, move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (75.7) without activating the order (83.6), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Lean Hog
In the United States, the number of pigs has decreased. Will the LHOG quotes grow?
According to the U.S. Department of Agriculture (USDA) as of September 1, 2021, the head herd of pigs in the United States was 75.35 million. This is 3.08 million or 4% less than in 2020. At the same time, the slaughter of pigs lags behind last year's level by only 1.8%. In theory, this could further reduce the American pig population. The USDA also noted that from June to August 2021, the pig crop was 33.9 million. This is 6% less than in the same period in 2020. The number of breeding sows (sows farrowing) decreased in June-August this year by 7% compared to last year. Another outbreak of African swine fever (ASF) may become an additional factor for the increase in pork quotes. Earlier, the National Pork Producers Council noted the emergence of this disease in the Western Hemisphere (Dominican Republic and Puerto Rico), for the first time in 40 years. So far, ASF has not spread further in the region thanks to quarantine measures.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
