S&P 500
2384.20
-4.57 -0.19%
Dow Indu
20940.51
-40.82 -0.19%
Nasdaq
6049.72
+0.78 +0.01%
Crude Oil
49.16
+0.19 +0.39%
Gold
1268.18
+2.83 +0.22%
Euro
1.088975
+0.001975 +0.18%
US Dollar
99.020
-0.134 -0.14%
Strong

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

INO.com’s Daily Market Analysis

It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.

Privacy Policy

LIVESTOCK

June hogs closed up $1.18 at $74.00.

June hogs closed higher on Friday as it extended the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the 50-day moving average crossing at 74.96 is the next upside target. Closes below the 10-day moving average crossing at 70.97 would temper the near-term friendly outlook. First resistance is today's high crossing at 74.23. Second resistance is the 50-day moving average crossing at 74.96. First support is the 10-day moving average crossing at 70.97. Second support is the 87% retracement level of the September-February-rally crossing at 68.16.

June cattle closed up $2.50 at 124.03.

June cattle closed sharply higher on Friday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this year's rally, weekly resistance crossing at 133.83 is the next upside target. Closes below the 20-day moving average crossing at 114.62 would confirm that a short-term top has been posted. First resistance is today's high crossing at 124.23. Second resistance is weekly resistance crossing at 133.83. First support is the 20-day moving average crossing at 114.62. Second support is the 50-day moving average crossing at 110.82.

May Feeder cattle closed up $2.98 at $149.55.

May Feeder cattle closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this year's rally, weekly resistance crossing at 151.20 is the next upside target. Closes below the 20-day moving average crossing at 137.65 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 149.85. Second resistance is weekly resistance crossing at 151.20. First support is the 20-day moving average crossing at 137.65. Second support is the 50-day moving average crossing at 131.20.

© Copyright INO.com, Inc. All Rights Reserved.