Market Commentary and Analysis

Trader's Blog

Indexes Trigger Monthly Trade Triangles

23 hours ago

BNY Mellon With Truly Fee-Free ETF

2 days ago

U.S. Crude Oil Production Peaked In November

3 days ago

Election Year Cycles - What To Expect

4 days ago

Are Palladium, Gold And Silver Set To Takeoff?

5 days ago

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 https://quotes.ino.com/exchanges/?c=livestock

July hogs closed up $0.73 at $54.30.

July hogs closed higher on Friday as it bounced off the 75% retracement level of the April-May rally crossing at $53.34. The mid-range close sets the stage for a steady opening when Monday'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 July extends this week's decline, the 87% retracement level of the April-May rally crossing at $51.19 is the next downside target. Closes above the 50-day moving average crossing at $57.74 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at $61.17. Second resistance is May's high crossing at $66.70. First support is the 75% retracement level of the April-May rally crossing at $53.34. Second support is the 87% retracement level of the April-May rally crossing at $51.19.

August cattle closed down $1.18 at $96.75.

August cattle closed lower on Friday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below today's low crossing at $95.70 would confirm a downside breakout of the aforementioned trading range. If August renews the rally off April's low, the 62% retracement level of the January-April-decline crossing at $103.35 is the next upside target. First resistance is the May 8th high crossing at $101.90. Second resistance is the 62% retracement level of the January-April-decline crossing at $103.35. First support is today's low crossing at $95.70. Second support is the 50-day moving average crossing at $93.88.

August Feeder cattle closed down $0.85-cents at $133.88.

August Feeder cattle closed 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $129.21 would confirm that a short-term top has been posted. If August extends last-week's rally, May's high crossing at $138.80 is the next upside target. First resistance is May's high crossing at $138.80. Second resistance is the 75% retracement level of the January-April-decline crossing at $144.91. First support is the 50-day moving average crossing at $129.21. Second support is May's low crossing at $125.30.