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February hogs closed down $1.28 at $67.23.

February hogs closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $69.04 would temper the near-term bearish outlook. If February renews this month's decline, December's low crossing at $65.40 is the next downside target. First resistance is the 50% retracement level of the October-December-decline crossing at $72.43. Second resistance is the 62% retracement level of the October-December-decline crossing at 74.10. First support is last-Monday's low crossing at $65.57. Second support is December's low crossing at $65.40.

February cattle closed up $0.18 at $124.85.

February cattle closed slightly higher on Friday as it extends the November-January trading range. The high-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below is January's low crossing at $124.55 would confirm a downside breakout of the aforementioned trading range. If February renews the rally off September's low, weekly resistance crossing at $130.45 is the next upside target. First resistance is December's high crossing at $127.90. Second resistance is weekly resistance crossing at $130.45. First support is today's low crossing at $124.10. Second support is the reaction low crossing at $123.30.

March Feeder cattle closed down $0.85-cents at $139.67.

March Feeder cattle closed lower on Friday as it extends this month's decline. The low-range close sets the stage for a steady to lower opening when Monday'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 March extends this week's decline, November's low crossing at $138.62 is the next downside target. Closes above the 20-day moving average crossing at $144.58 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at $144.58. Second resistance is January's high crossing at $147.75. First support is today's low crossing at $139.20. Second support is November's low crossing at $138.62.