# The mystery of the CME Lean Hog Index

> Steve Meyer of Ever.ag discusses how the CME Lean Hog Index moves in ways that sometimes surprise the market, despite its public formula. He attributes the variability to the relative weights of negotiated and swine/pork formula prices within USDA's Livestock Mandatory Reporting system.

- Date: 2022-11-14 · published 2022-11-14T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/38835-the-mystery-of-the-cme-lean-hog-index
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Index behavior affects hog futures settlement and price discovery, but the commentary is about methodology rather than a supply or demand change.

## Read by commodity

- HOGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2022-04-01 | [Lean hogs retreat after contract highs - CME
						 \| The Pig Site](https://feedsoft.ai/events/41995-lean-hogs-retreat-after-contract-highs-cme-the-pig-site.md) | -2.4% | +1.0% |
| HOGS | 2022-05-26 | [Lean hogs](https://feedsoft.ai/events/41555-lean-hogs.md) | +0.6% | +2.1% |
| HOGS | 2026-10-15 | [Market Insights: The three stories of protein \| MEAT+POULTRY](https://feedsoft.ai/events/605-market-insights-the-three-stories-of-protein-meat-poultry.md) | -2.4% | — |
| HOGS | 2022-12-27 | [Cattle & Hog Numbers Still On The Decline - Mid-West Farm Report](https://feedsoft.ai/events/7015-cattle-and-hog-numbers-still-on-the-decline-mid-west-farm-report.md) | -0.2% | -8.2% |
| HOGS | 2022-10-24 | [Hog slaughter in line with expectations](https://feedsoft.ai/events/39274-hog-slaughter-in-line-with-expectations.md) | -1.9% | -5.7% |

## Sources

- nationalhogfarmer.com: https://www.nationalhogfarmer.com/farm-policy-news/the-mystery-of-the-cme-lean-hog-index

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