INO.com’s Daily Market Analysis
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LIVESTOCK: April live cattle closed up $2.47 at $122.37 today. Prices closed nearer the session high today and hit a 15-month high. The cattle market bulls have the solid overall near-term technical advantage and gained more power today. Prices are in a five-week-old uptrend on the daily bar chart.
May feeder cattle closed up $3.87 at $135.37 today. Prices closed nearer the session high today and hit a contract high. The feeder cattle bulls have the solid overall near- term technical advantage and gained more power today.
April lean hogs closed up $0.32 at $68.32 today. Prices closed near mid-range today. Bulls still have the overall near-term technical advantage, but have faded recently and need to show more power soon.