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.
LIVESTOCK: December live cattle closed up $0.42 at $113.87 today. Prices closed nearer the session high today and hit a 2.5-month high. The live cattle bulls have the firm overall near-term technical advantage. Prices are in a steep five-week-old uptrend on the daily bar chart.
November feeder cattle closed down $0.15 at $145.92 today. Prices closed nearer the session high today. The feeder cattle market bulls have the overall near-term technical advantage. Prices have been trending higher for five weeks. The next upside price objective for the feeder bulls is to close November prices above technical resistance at $150.00.
December lean hogs closed down $1.50 at $70.62 today. Prices closed near mid-range today. The hog market bulls have the slight overall near-term technical advantage.