Livestock Report

Ben DiCostanzo General Commentary

Walsh Trading Daily Insights


June Lean Hogs opened higher and challenged resistance at 92.375, trading to the session high at 92.775. It quickly turned lower and by mid-morning was at the session low at 90.975. It consolidated in the middle of the range for the rest of the day and settled in the lower end of the range at 91.35. The cash market continues to be stifled as cutouts and now the Lean Hog Index has turned lower. Not a good deal if you think futures prices should rally. Futures are struggling. Today’s price action in futures was weak, in my opinion. It consolidated within Monday’s range and is stuck in the middle of Friday’s big down move and closed lower. The lower close keeps the pressure on bulls and the weakening cash market doesn’t help. A failure from settlement could see price revisit support at the declining 200-DMA now at 90.45 and nearby support at 90.40. If price can’t hold support, we could then make our way down to test support at 88.325. If price can hold settlement, we could test resistance at 92.375 and then the Monday high at 92.95. Resistance then comes in at 93.50.

The Pork Cutout Index decreased and is at 84.49 as of 03/20/2023.

The Lean Hog Index declined and is at 79.55 as of 03/17/2023.

Estimated Slaughter for Tuesday is 485,000, which is even with last week and above last year’s 473,000. Monday’s slaughter was revised lower to 459,000. The estimated slaughter for the week (so far) is 944,000, which is below last week’s 969,000 and above last year’s 942,000.

For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursdays (except holiday weeks) and our next webinar will be on Thursday, March 23, 2023, at 3:00 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar.

 Sign Up Now

**Call me for a free consultation for a marketing plan regarding your livestock needs.**

Ben DiCostanzo

Senior Market Strategist

Walsh Trading, Inc.

Direct: 312.957.4163


Fax: 312.256.0109

Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.​
tested support at the
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.​

All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall not be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.