HE #F: Lean Hogs Reacting Higher from Blue Box Area
@Elliottwave_Forecast:
HE #F: Lean Hogs Reacting Higher from Blue Box Area March 21, 2023 By EWF Helgi Lean Hogs is a livestock commodity within the agriculture asset class, along with live cattle, feeder cattle and pork cutouts. One can trade Lean Hogs futures at Chicago Mercantile Exchange in contracts of 40’000 pounds each under the ticker HE #F. As a matter of fact, the futures prices are widely used by U.S. pork producers as a reference for selling their hogs. Therefore, anticipation of the HE #F price development is of a high impact on the modern society. Indeed, the price action of the lean hogs futures reflects the future steak price on the barbecue. Currently, we see a buying opportunity in commodities after a long period of depressed prices. Also, lean hogs are expected to be in a new bullish cycle. In