S&P 500
1979.79
+0.88 +0.04%
Dow Indu
17005.62
+23.03 +0.14%
Nasdaq
4457.17
+12.26 +0.28%
Crude Oil
100.65
-1.02 -1.00%
Gold
1299.32
-5.12 -0.39%
Euro
1.341720
-0.002075 -0.15%
US Dollar
81.230
+0.219 +0.28%
Weak

Market Commentary

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

August hogs closed up $0.50 at $123.67.

August hogs closed higher on Monday. Today's mid-range close sets the stage for a steady opening when Tuesday'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 August extends the decline off June's high, the 25% retracement level of the 2013-2014-rally crossing at 121.45 is the next downside target. Closes above the 20-day moving average crossing at 128.41 would confirm that a short-term low has been posted. First resistance is last Thursday's gap crossing at 124.57. Second resistance is the 20-day moving average crossing at 128.41. First support is last Thursday's low crossing at 122.10. Second support is the 25% retracement level of the 2013-2014-rally crossing at 121.45.

August cattle closed down $0.05 at 159.05.

August cattle closed slightly lower on Monday as it consolidates some of the rally off this month's low. The mid-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 152.57 would confirm that a short-term top has been posted. First resistance is today's high crossing at 160.20. Second resistance is unknown. First support is the 20-day moving average crossing at 152.57. Second support is the reaction low crossing at 146.80.

August feeder cattle closed up $1.92 at $220.17.

August Feeder cattle gapped up and closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this week's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 214.41 would signal that a short-term top has been posted. First resistance is today's high crossing at 220.52. Second resistance is unknown. First support is the 20-day moving average crossing at 214.41. Second support is the reaction low crossing at 207.90. Third support is the reaction low crossing at 204.85.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.