INO.com’s Daily Market Analysis
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LIVESTOCK: December live cattle closed up $1.25 at 168.30 today. Prices closed near the session high and closed at a new contract high close today. Bulls have the solid near-term technical advantage and have once again proven resilient. Still, this is a very mature bull market and the recent higher volatility is not bullish.
November feeder cattle closed up $1.35 at $235.27 today. Prices closed nearer the session high. Bulls have the firm near-term technical advantage. Still, this is a very mature bull market and the recent higher volatility is not bullish.
December lean hogs closed up $1.50 at $89.92 today. Prices closed nearer the session high on short covering after hitting a seven-week low Tuesday. Bears still have the near-term technical advantage.