April Lean Hogs is fighting lower prices. The last 3 days were crazy. We may continue uptrend on Monday as Feb Lean Hog (see below) has created a Harami pattern suggesting higher prices. The USDA index for Lean Hog is 68.11 area and has been rising. If we get a triple top, we may be looking at even higher prices. Next USDA index comes out at 8:45 Chicago time. This market is also under the 20 day moving average.
Comment:
Lean Hogs index price was 68.30 and the day ended at 68.25. Looking at the index it is increasing price each time. Since the market went to doji, tomorrow might bring further upside. We might triple top this week.
