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February hogs closed down $1.83 at $67.03.

February hogs closed lower on Monday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the aforementioned decline, November's low crossing at 66.25 is the next downside target. If February renews the rally off November's low, November's high crossing at 73.30 is the next upside target. First resistance is the reaction high crossing at 72.25. Second resistance is November's high crossing at 73.30. First support is the reaction low crossing at 66.88. Second support is November's low crossing at 66.25.

February cattle closed down $0.58 at 117.73.

February cattle closed lower on Monday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off November's high, the 75% retracement level of the August-November-rally crossing at 115.06 is the next downside target. Closes above the 20-day moving average crossing at 123.26 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 123.26. Second resistance is November's high crossing at 131.95. First support is today's low crossing at 117.58. Second support is the 75% retracement level of the August-November-rally crossing at 115.06.

January Feeder cattle closed up $0.23 at $145.45.

January Feeder cattle closed higher on Monday. The mid-range close sets the stage for a steady opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, the 38% retracement level of the February-October-rally crossing at 144.16 is the next downside target. Closes above the 20-day moving average crossing at 151.39 would confirm that a short-term low has been posted. First resistance is the late-November high crossing at 156.05. Second resistance is November's high crossing at 162.08. First support is today's low crossing at 144.45. Second support is the 38% retracement level of the February-October-rally crossing at 144.16.

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