fbLean Hog Price Bias Is Still Bearish | IFCM

Lean Hog Price Bias Is Still Bearish

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The #C-LHOG price forecast in our June 12, 2020 technical analysis was bearish.

  • Market data after #C-LHOG,Daily June 12, 2020 technical analysis still indicate bearish bias.
  1. #C-LHOG,Daily closed 0.9% lower over day on June 12, 2020.
  2. 2020 pork production is estimated at 100.4% of 2019 levels.

Here is what indicators show as of June 15, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • The Donchian channel indicates downtrend: it is narrowing down.
  • The MACD indicator gives a bearish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give bearish signal.
  • The MA(50) Indicator gives a bearish signal.

So the bearish forecast still stands for the #C-LHOG,Daily.

OrderSELL
Sell stopBelow 51.38
Stop lossAbove 55.71

USDA World Agricultural Supply and Demand Estimates June report

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