# Pig outlook — Lean hog futures bulls working on a price bottom
						 | The Pig Site

> Lean hog futures traded sideways and choppy at lower levels, with a possible double-bottom reversal pattern forming on daily charts. The CME lean hog index fell 44 cents to $66.25 as of Dec. 21, a seasonal low. USDA's Hogs & Pigs report showed the herd at 74.971 million head, slightly above year-ago but with breeding stock lower.

- Date: 2023-12-29 · published 2023-12-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/32855-pig-outlook-lean-hog-futures-bulls-working-on-a-price-bottom-the-pig-site
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

A seasonal cash low and a possible technical bottom suggest limited near-term downside for hog prices, though the bearish report caps rallies. Hog prices feed directly into the cost of pork-based feed ingredients like meat and bone meal.

## Read by commodity

- HOGS: neutral

## Sources

- thepigsite.com: https://www.thepigsite.com/articles/pig-outlook-lean-hog-futures-bulls-working-on-a-price-bottom

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.