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June hogs closed down $0.93 at $111.18.

June hogs closed lower on Monday as it consolidated some of the rally off April's low. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $108.46 would signal that a short-term top has likely been posted. If June extends the rally off November's low, the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70 is the next upside target. First resistance is last-Thursday's high crossing at $115.00. Second resistance is the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70. First support is the 20-day moving average crossing at $108.46. Second support is the 50-day moving average crossing at $104.45.

June cattle closed up $0.40 at $118.63.

June cattle closed higher on Tuesday as it extended the rally off last-Tuesday's low. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 $119.32 is the next upside target. Closes below the 10-day moving average crossing at $115.93 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $119.32. Second resistance is the April 20th high crossing at $119.83. First support is the 10-day moving average crossing at $115.93. Second support is May's low crossing at $112.57.

August Feeder cattle closed up $0.15 at $148.85.

August Feeder cattle closed higher on Tuesday as it extended the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $149.54 would signal that a short-term low has been posted. If August extends the decline off April's high, the 87% retracement level of the October-April-rally crossing at $138.45 is the next downside target. First resistance is the 20-day moving average crossing at $149.54. Second resistance is the 50-day moving average crossing at $154.07. First support is the 75% retracement level of the October-April-rally crossing at $141.77. Second support is the 87% retracement level of the October-April-rally crossing at $138.45.