Lean hogs put in an interim top right around Halloween and have fallen off since losing just better than 7% dragging February futures to the up-sloping trend line that has acted as support since May. Though futures are currently oversold I am operating under the influence that the path of least resistance remains down and […]
Lean hog futures (August contract) are up 5.4% after putting in a bottom at 88.70 on May 17. We’re now trading at 3 ½ month highs… putting this market into overbought levels. As of this post it appears buyers are showing signs of fatigue as we have a potential triple top at the recent highs […]
Catching a falling knife can sometimes be painful and though a bit early on my recommendation to buy pork…it appears the move I anticipated is under way. As of this post April lean hog futures are higher by 3.53% on the day trading above their 9 day MA for the first time since early February. […]
