October live cattle closed up $2.27 at $90.40 yesterday. Prices closed sharply higher, near the session high and scored a fresh 5.5-month high yesterday. Bulls yesterday gained solid upside near-term technical momentum. Also, the key "outside markets" were mostly bullish for cattle futures yesterday, as the U.S. stock indexes were higher, crude oil was solidly higher and the U.S. dollar was near steady. Bulls' next upside price objective is to push prices above solid technical resistance at the January high of $92.70. The next downside technical objective for the bears is pushing and closing prices below solid technical support at last week's low of $87.45. First resistance is seen at yesterday's high of $90.50 and then at $91.00. First support is seen at $90.00 and then at $89.50.

Wyckoff's Market Rating: 6.0.

Source: VantagePoint Intermarket Analysis Software

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August feeder cattle closed up $2.77 at $101.75 yesterday. Prices closed near the session high and hit a fresh four-week high yesterday. The bulls have the near-term technical advantage and gained solid upside power yesterday. The next upside price objective for the feeder bulls is to push prices above solid technical resistance at the Mayhigh of $103.20. The next downside price objective for the bears isto push prices below solid technical support at $98.50. First resistance is seen at yesterday's high of $101.97 and then at $102.25. First support is seen at $101.50 and then at $101.00.

Wyckoff's Market Rating: 7.0

October lean hogs closed up $0.42 at $55.20 yesterday. Prices closed near the sessionhigh after hitting a fresh contract low early on. Tepid short covering in a bear market was featured yesterday. Prices are in a seven-month-old downtrend on the daily bar chart. The hog bears still have the solid near-term technical advantage. There are not yet any early technical clues that a market bottom is in place. The next upside price objective for the bulls is to push prices above solid chart resistance at last week's high of $58.50. The next downside price objective for the bears is pushing and closing prices below solid technical support at $52.50. First resistance is seen at yesterday's high of $55.20 and then at $55.50. First support is seen at yesterday's contract low of $53.95 and then at $53.50.

Wyckoff's Market Rating: 1.0

July pork bellies closed down $2.40 at $56.00 yesterday. Prices closed near the session low yesterday. Bears still have the solid near-term technical advantage. The next upside price objective for the bulls is pushing and closing prices above solid technical resistance at $60.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at the contract low of $54.90. First resistance is seen at $57.00 and then at $57.50. First support is seen at yesterday's low of $56.00 and then at $54.90.

Wyckoff's Market Rating: 1.0