‘Bull camp in control’

“In another victory for the bull camp, cattle and feeder prices ignored the sharp weakness in the stock market and higher dollar and traded higher most of the day before pulling back before the close,” The Hightower Report said.  “Since July 1, December live cattle has marched steadily higher and there is no sign yet that the rally is ready to end. The bull camp remains in control.”

“The hog market continued to show strength for the eighth consecutive session with another move into new contract highs today for December,” The Hightower Report said. “On the recent two-week rally, open interest continued to move higher nearly every day as new longs are clearly establishing and or adding to their positions.”