An adjustable pipe support system is formed by fixing to a support column a top and bottom support plate, each plate comprising a respective orifice aligned with the other. A tube comprising a lubricating material fitting is fixed at each end to a respective support plate and aligned with the orifices, thereby forming a lubricating material receiving housing. Inserted into each orifice is a threaded adjusting bushing comprising internal threads and a shoulder contact flange. The adjusting bushings are sized such that when the inserted shoulder shoulder contact flanges are stopped by the support plate a space remains between the two contact bushing ends. A threaded stud first end is threadingly received by the threaded adjusting bushings. A threaded stud second end comprises a support member. As each threaded adjusting bushing is tightened the shoulder shoulder contact flanges seal against the support plates to laterally stabilize the threaded stud and contain the lubricating material within the housing.