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April hogs closed down $3.00 at $49.20.

April hogs closed limit down on Wednesday as it extended the decline off March's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, weekly support crossing at $47.83 is the next downside target. Closes above the 50-day moving average crossing at $63.70 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $60.37. Second resistance is the 50-day moving average crossing at $63.70. First support is today's low crossing at $49.20. Second support is weekly support crossing at $47.83.

April cattle closed down $4.50 at $97.32.

April cattle closed limit down on Wednesday as it extended the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, March's low crossing at $91.08 is the next downside target. If April renews the rally off March's low, the 50-day moving average crossing at $111.11 is the next upside target. First resistance is the 50-day moving average crossing at $111.11. Second resistance is March's high crossing at $112.65. First support is today's low crossing at $97.32. Second support is March's low crossing at $91.08.

May Feeder cattle closed down $4.50-cents at $118.40.

May Feeder cattle closed limit down on Wednesday as it extends the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, March's low crossing at $107.47 is the next downside target. If May resumes the rally off March's low, the 50-day moving average crossing at $132.67 is the next upside target. First resistance is the 50-day moving average crossing at $132.67. Second resistance is March's high crossing at $138.20. First support is today's low crossing at $118.40. Second support is March's low crossing at $107.47.