June lean hog futures a buying opportunity on more price strength.
See on the daily bar chart for June lean hog futures that prices have made a good rebound from the March low to suggest a market low is in place. The bulls have gained upside technical momentum recently, including prices hitting a six-week high Tuesday. A move above chart resistance at the March high of $92.12 would become a fresh buying opportunity. The upside price objective would be $97.00, or above. Technical support, for which to place a protective sell stop just below, is located at $89.50.
