August lean hog futures (HEQ25) present a buying opportunity on more price strength. 

See on the daily bar chart for August lean hog futures that prices are in a solid uptrend and have just hit a contract high. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bullish mode as the red MACD line is above the blue trigger line and both lines are trending up. The lean hog bulls are in firm technical control and there are no early, significant chart clues to suggest a market top is in place.

Fundamentally, cash hog and pork market fundamentals remain strong. Fresh pork wholesale prices remain at the highest levels since August 2023. Fresh pork movement Tuesday was a solid 348.5 loads, suggesting strong retailer demand. With wholesale beef prices at the second-highest levels ever, pork at the meat counter is a value buy at current price levels. And the peak outdoor grilling season has just begun.

A move in August lean hog futures prices above chart resistance at the contract high of $106.875 would become a buying opportunity. The upside price objective would be $117.00, or above. Technical support, for which to place a protective sell stop just below, is located at $102.00.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.