INO.com’s Daily Market Analysis
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LIVESTOCK: December live cattle closed up $0.60 at 167.32 today. Prices closed nearer the session high today. Bulls have the solid near-term technical advantage. Prices are in a nine-week-old uptrend on the daily bar chart.
January feeder cattle closed up $0.62 at $228.57 today. Prices closed nearer the session high. Bulls have the near- term technical advantage but trading has been choppy and sideways for two weeks.
December lean hogs closed down $1.32 at $87.27 today. Prices closed nearer the session low, hit a two-month low and produced a bearish downside “breakout” from the recent trading range. Bears have the near-term technical advantage and gained more downside momentum today.