Hog Market Recap
The Hog market managed to inch higher today after choppy to lower trade early in the day. The market shook off outside market weakness to bounce into the close.
Feb Hogs traded lower early but managed to bounce to trade slightly higher into the mid-session.
A general commodity market sell-off helped to pressure the market early and the premium of futures to the cash market did not help.
The outlook for a seasonal bottom in the cash market soon plus a Bullish cold storage report from late yesterday helped to support the bounce to higher on the day into the mid-session.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.