Lean Hogs (HE-F)
Commodities · Livestock · data since 2000-12-15 · last close 2026-09-09
Lean Hogs (HE-F) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.5 | 9.7 | -5.5 | 3.4 | 2.6 | -1.6 | 4.8 | -15.3 | -0.8 | · | · | · |
| 2025 | 3.5 | -0.6 | 4.8 | 4.8 | 10.2 | 8.7 | -2.7 | -11.3 | 5.1 | -18.6 | -0.8 | 5.6 |
| 2024 | 12.3 | 13.5 | 0.0 | 8.7 | 0.2 | -5.1 | 3.0 | -10.9 | 0.0 | 1.9 | -2.1 | -0.9 |
| 2023 | -14.6 | 13.8 | -11.7 | 5.8 | 3.7 | 15.8 | 8.9 | -20.7 | -2.9 | -10.6 | -4.1 | -1.2 |
| 2022 | 8.6 | 17.0 | -1.7 | -0.8 | 7.0 | 1.1 | 10.6 | -24.1 | -2.5 | -4.8 | -2.4 | 5.8 |
| 2021 | -0.7 | 24.9 | 15.9 | 9.0 | 6.5 | -8.3 | -1.2 | -16.4 | 3.1 | -16.9 | -3.5 | 11.0 |
| 2020 | -20.0 | 9.0 | -16.2 | 13.3 | -3.9 | -20.5 | 15.1 | 3.1 | 35.8 | -9.9 | 3.0 | 4.0 |
| 2019 | -7.8 | -0.7 | 38.5 | 8.9 | -3.0 | -11.8 | 10.0 | -19.9 | 3.0 | 0.8 | -6.0 | 15.2 |
| 2018 | 2.0 | -8.2 | -14.8 | 15.8 | 15.6 | 8.2 | -26.2 | -17.5 | 23.3 | -6.0 | -1.0 | 5.4 |
| 2017 | 4.4 | -2.1 | -2.9 | 2.0 | 22.3 | 10.6 | -11.4 | -23.5 | -9.8 | 22.7 | -5.5 | 11.7 |
| 2016 | 10.0 | 6.3 | -2.3 | 14.0 | 3.4 | 2.8 | -16.8 | -8.9 | -22.0 | -2.2 | 6.4 | 29.6 |
| 2015 | -16.9 | 0.0 | -7.5 | 23.3 | 8.9 | -9.1 | 3.0 | -13.3 | 8.1 | -19.5 | -1.3 | 2.4 |
| 2014 | 0.9 | 23.9 | 17.9 | -6.6 | -3.7 | 17.0 | -11.0 | -16.9 | 10.0 | -18.5 | 2.6 | -10.1 |
| 2013 | 2.2 | -7.5 | -0.5 | 11.8 | 6.1 | 5.9 | -3.6 | -10.2 | 5.0 | -3.0 | -3.9 | -0.3 |
| 2012 | 3.8 | 2.2 | -6.7 | 0.3 | 7.3 | 7.6 | -3.8 | -20.2 | 4.0 | 1.4 | 7.4 | 2.0 |
| 2011 | 9.4 | 1.8 | 5.5 | 1.6 | -5.3 | 4.7 | 8.9 | -16.8 | 9.2 | -6.3 | 0.8 | -4.4 |
| 2010 | 1.4 | 9.5 | 0.7 | 22.1 | -8.6 | -3.2 | 8.3 | -12.4 | 3.5 | -14.9 | 4.3 | 15.5 |
| 2009 | -3.8 | 4.0 | -0.9 | -3.7 | 10.0 | -8.2 | -4.5 | -14.1 | 4.0 | 13.2 | 3.4 | 11.9 |
| 2008 | 1.0 | 2.5 | -4.8 | 29.2 | 5.4 | -5.8 | 8.8 | -14.1 | 0.2 | -20.1 | 8.6 | 2.3 |
| 2007 | 4.6 | 5.0 | -5.8 | 18.4 | -0.7 | -5.1 | 3.0 | -8.9 | -11.9 | -8.5 | 1.9 | 5.4 |
| 2006 | -14.3 | 9.9 | -6.7 | 18.5 | 0.1 | 6.6 | -5.5 | -2.4 | -4.9 | 2.1 | -5.0 | 0.0 |
| 2005 | -3.4 | 0.6 | -7.4 | 13.8 | -7.9 | -9.0 | 3.6 | -6.2 | 5.5 | -8.2 | 1.3 | 4.4 |
| 2004 | 7.3 | 8.2 | 7.5 | 11.6 | 1.9 | 4.1 | -1.5 | -15.1 | 13.7 | -10.1 | 17.2 | -3.4 |
| 2003 | -1.3 | 7.1 | -7.8 | 15.2 | 11.9 | -1.2 | -10.5 | -4.4 | 1.4 | -4.0 | -6.3 | 7.0 |
| 2002 | -1.4 | 7.3 | -14.0 | -12.1 | 2.5 | 8.1 | 2.5 | -40.4 | 30.2 | 7.3 | 25.7 | -4.8 |
| 2001 | 4.9 | -0.8 | 4.6 | -2.5 | 1.1 | 5.5 | 4.1 | 0.5 | -4.1 | -6.3 | -2.6 | 13.4 |
| 2000 | · | · | · | · | · | · | · | · | · | · | · | -2.4 |
| Avg | -0.2 | 6.0 | -0.8 | 8.7 | 3.6 | 0.7 | -0.2 | -13.9 | 4.1 | -5.6 | 1.5 | 4.8 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
HE-F seasonality — average by calendar month
Lean Hogs has monthly history back to 2000. Its strongest month by median is April — positive in 21 of 26 years, median +9.0%, and higher in 8 of the last 9. August is the soft spot, down in 24 of 26 with a median of -14.1%. Across its full record it has closed 55% of months higher, swings ±10.8% in an average month and has fallen 72% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | -0.2% | +6.0% | -0.8% | +8.7% | +3.6% | +0.7% | -0.2% | -13.9% | +4.3% | -5.6% | +1.5% | +4.8% |
| Win rate | 62%/26 | 73%/26 | 31%/26 | 81%/26 | 73%/26 | 54%/26 | 54%/26 | 8%/26 | 72%/25 | 28%/25 | 48%/25 | 69%/26 |
Win rate = share of positive months / sample size.
HE-F risk & extremes
HE-F drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
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Frequently asked questions
What was Lean Hogs's best month?+
Lean Hogs's strongest completed month on record is March 2019, at +38.48%.
What was Lean Hogs's worst month?+
Its weakest completed month on record is August 2002, at -40.37%.
Is Lean Hogs up this year?+
Lean Hogs is down 2.41% year to date, measured from its last close before 1 January.
What is Lean Hogs's 1-year return?+
-13.60% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is Lean Hogs's biggest drawdown?+
The deepest peak-to-trough fall on record is 72.0%, measured on month-end closes since 2000.
Which calendar month is historically best for Lean Hogs?+
April has the highest average return across every completed April since 2000. An average is not a forecast.
About Lean Hogs
Lean Hogs is a livestock business. Tracked here from its first session onward — every monthly, quarterly and weekly return on record since 2000, with no gaps filled in and nothing smoothed. Since 2000 it has ground out +72% overall — not every story is a rocket.
Did you know?
- Its best month on record was March 2019 at +38.48%; its worst, August 2002 at -40.37%.
- It has closed April in the green 21 out of 26 times — not a promise, just a suspicious habit.
Trivia for entertainment — the numbers come from our price data; the jokes don't.