April live cattle closed steady at $92.30 yesterday. Prices closed nearer the session high yesterday. The bulls still have the solid near-term technical advantage as prices hover near nine-month highs. Prices are in a 10-week-old uptrend on the daily bar chart. Bulls' next upside price objective is to push and close prices above solid technical resistance at the contract high of $95.15. The next downside technical objective for the bears is pushing and closing prices below solid technical support at $92.20, which is the bottom of last week's upside price gap on the daily bar chart. First resistance is seen at last week's high of $93.52 and then at $94.00. First support is seen at yesterday's low of $92.90 and then at $92.60.

Wyckoff's Market Rating: 8.0.

Source: VantagePoint Intermarket Analysis Software

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March feeder cattle closed down $0.80 at $101.80 yesterday. Prices closed nearer the session low yesterday on profit-taking pressure after prices hit a fresh contract high on Friday. Solid gains in corn futures also weighed on feeders yesterday. Feeder bulls still have the solid near-term technical advantage. Prices are in a 10-week-old uptrend on the daily bar chart. The next upside price objective for the feeder bulls is to push and close prices above solid technical resistance at $104.00. The next downside price objective for the bears is to push and close prices below solid technical support at $100.00. First resistance is seen at $102.00 and then at yesterday's high of $102.55. First support is seen at yesterday's low of $101.50 and then at $101.00.

Wyckoff's Market Rating: 7.5

April lean hogs closed up $0.67 at $70.32 yesterday. Prices closed nearer the session low yesterday and were pressured on profit taking from recent gains. Bulls are regaining fresh upside technical momentum. Prices are in a three-week-old uptrend on the daily bar chart. The next upside price objective for the bulls is to push prices above solid chart resistance at $72.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at $68.00. First resistance is seen at last week's high of $70.87 and then at $71.30.
First support is seen at $70.00 and then at $69.60.

Wyckoff's Market Rating: 6.5

March pork bellies closed down $0.75 at $86.80 yesterday. Prices closed near the session low yesterday. Bulls have the near-term technical advantage. Prices are in a choppy three-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 $90.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at $84.00. First resistance is seen at $87.50 and then at $88.00. First support is seen at $86.00 and then at $85.00.

Wyckoff's Market Rating: 6.0