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    Hog market languishes amid coronavirus outbreak worries

    The pig traders’ perspective: The US hog futures market continues to trade choppy and sideways at lower levels, as the pork market bulls remain very timid amid the ongoing coronavirus scare that continues to upset the global marketplace.
    calendar icon 6 March 2020
    clock icon 2 minute read
    By: Jim Wyckoff
    North America
    Prices move into lower boundaries of the trading range of past few years, and now starting to rebound, suggesting more upside in the coming months
    Prices move into lower boundaries of the trading range of past few years, and now starting to rebound, suggesting more upside in the coming months

    © Jim Wyckoff

    Prices still in downtrend and bears have overall technical advantage. However, more gains in very near term would suggest that market bottom is in place
    Prices still in downtrend and bears have overall technical advantage. However, more gains in very near term would suggest that market bottom is in place

    © Jim Wyckoff

    Bulls make impressive showing this week as prices rebound smartly from contract low to suggest near-term low in place
    Bulls make impressive showing this week as prices rebound smartly from contract low to suggest near-term low in place

    © Jim Wyckoff

    Bulls make quick recovery to suggest a move to upper boundary of trading range to $3.94 in coming weeks
    Bulls make quick recovery to suggest a move to upper boundary of trading range to $3.94 in coming weeks

    © Jim Wyckoff

    Price downtrend negated to give bulls upside momentum and suggest more gain in near term. Soybean meal's improved technical posture suggests market bottom in for soybeans, too
    Price downtrend negated to give bulls upside momentum and suggest more gain in near term. Soybean meal's improved technical posture suggests market bottom in for soybeans, too

    © Jim Wyckoff

    Prices stabilise to suggest sideways or sideways-higher trading in near term; price downtrend has been negated
    Prices stabilise to suggest sideways or sideways-higher trading in near term; price downtrend has been negated

    © Jim Wyckoff

    Prices bounce from longer-term technical support to suggest sideways-higher trading in coming weeks
    Prices bounce from longer-term technical support to suggest sideways-higher trading in coming weeks

    © Jim Wyckoff

    Bears still have momentum amid price downtrend to suggest still more price pressure in the near term
    Bears still have momentum amid price downtrend to suggest still more price pressure in the near term

    © Jim Wyckoff

    Longer-term uptrend in serious jeopardy now; more selling pressure in the near term would negate the price uptrend
    Longer-term uptrend in serious jeopardy now; more selling pressure in the near term would negate the price uptrend

    © Jim Wyckoff

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    Jim Wyckoff

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