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April hogs closed down $2.60 at $89.15.

April hogs closed sharply lower on Friday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Monday's night 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 April renews the rally off November's low, the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25 is the next upside target. Closes below the 20-day moving average crossing at $82.99 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $90.68. Second resistance is the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25. First support is the 10-day moving average crossing at $86.38. Second support is the 20-day moving average crossing at $82.99.

April cattle closed down $1.68 at $120.00

April cattle closed lower on Friday as it extended the decline off February's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If April extends the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. Closes above the 20-day moving average crossing at $122.97 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.97. Second resistance is February's high crossing at $126.70. First support is the 38% retracement level of the October-February rally crossing at $119.86. Second support is the 50% retracement level of the October-February-rally crossing at $117.72.

April Feeder cattle closed down $2.50 at $142.58.

April Feeder cattle closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are poised to turn neutral to bearish with additional weakness the would signal that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $142.04 would signal that a short-term top has been posted. If April resumes the rally off February's low, January's high crossing at $147.00 is the next upside target. First resistance is February's high crossing at $145.80. Second resistance is January's high crossing at $147.00. First support is February's low crossing at $140.05. Second support is January's low crossing at $135.03.