INO.com’s Daily Market Analysis
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LIVESTOCK: December live cattle closed up $0.77 at 168.87 today. Prices closed near the session high and closed at another 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 $236.52 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 down $1.20 at $88.55 today. Prices closed nearer the session low. Bears have the near- term technical advantage.