April live cattle closed up $0.65 at $91.17 yesterday. Prices closed near the session high yesterday and hit a fresh five-month high. Bulls have gained solid upside near-term technical momentum recently. A five-week-old uptrend is in place on the daily bar chart. Bulls' next upside price objective is to push and close prices above solid technical resistance at $92.50. The next downside technical objective for thebears is pushing and closing prices below solid technical support at $90.00. First
resistance is seen at yesterday’s high of $91.20 and then at $91.50. First support is seen at yesterday’s low of $90.80 and then at $90.50.

Wyckoff's Market Rating: 7.0.

Source: VantagePoint Intermarket Analysis Software

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March feeder cattle closed up $1.02 at $99.67 yesterday. Prices gapped higher on the daily bar chart yesterday, hit a fresh four-month high and closed near the session high. Prices are in a solid five-week-old uptrend on the daily bar chart. Bulls have the solid near-term technical advantage. The next upside price objective for the feeder bulls is to push and close prices above solid technical resistance at the September high of $101.55. The next downside price objective for the bears is to push and close prices below solid technical support at $97.50. First resistance is seen at $100.00 and then at $100.50. First support is seen at yesterday's low of $99.05 and then at $98.82.

Wyckoff's Market Rating: 7.0

April lean hogs closed up $0.75 at $74.02 yesterday. Prices hit a fresh 13.5-month high and closed nearer the session high yesterday. Hog bulls have the solid overall near-term technical advantage. The next upside price objective for the bulls is to push and close prices above solid chart resistance at the contract high of $76.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at $71.20. First resistance is seen at yesterday’s high of $74.25 and then at $74.50. First support is seen at yesterday’s low of $73.55 and then at $73.00.

Wyckoff's Market Rating: 8.0

February pork bellies closed up $0.65 at $90.25 yesterday. Prices closed nearer the session high yesterday and closed at a fresh four-week high close. Bulls have the near-term technical advantage. Prices are in a choppy six-week-old uptrend on the daily bar chart. The next upside price objective for the bulls is pushing and closing prices above solid technical resistance at the October high of $91.70. The next downside price objective for the bears is pushing and closing prices below solid technical support at $86.00. First resistance is seen at yesterday’s high of $90.50 and then at $91.00. First support is seen at yesterday's low of $89.60 and then at $89.00.

Wyckoff's Market Rating: 7.0