Livestock Markets Linger Near Recent Highs

Live Cattle (April)

April live cattle futures grinded higher yesterday, settling right in the middle of our first resistance pocket, 237.45-238.25. If the Bulls can chew through and close above this hurdle, it opens the door for a push towards 239.25-240.15. That is the top of the range, but a breakout above there and we could be off to the races again, with the old contract highs from the Fall in the sites.

Resistance: Unlock key levels. Sign up free. Link Below!
Pivot: _________________________
Support: _________________________________

Feeder Cattle (March)

March feeder cattle futures were able to get out above the prior day’s high, which held the momentum through the close. If the Bulls can keep the mojo going in today’s trade, the next line in the sand comes in from

Resistance: Unlock key levels. Sign up free. Link below!
Pivot: _________________________
Support: _________________________________

Lean Hogs (April)

April lean hogs chopped around on both sides of unchanged yesterday, in an outside day which took out the prior day’s high and low. Ultimately, that led to a finish that was near unchanged. Momentum has clearly slowed, but the million dollar question is: is the market catching it’s breath before another leg higher, or has the buying exhausted itself? TBD. We’ve been pretty upbeat on hogs for the last two months and believe there may be some potential to see higher prices from here, but a healthy correction back near 92.50-93.00 may help aide that.

Resistance: Unlock key levels. Sign up free. Link Below!
Pivot: _________________________
Support: _________________________________

Stay ahead of the herd! 
 

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