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February hogs closed up $0.85 at $69.50.

February hogs closed higher 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 a low might be in or is near. Today's close above the 20-day moving average crossing at 68.16 confirms that a short-term low has been posted. If February extends this week's rally, the 50-day moving average crossing at 72.15 is the next upside target. If February renews the decline off October's high, August's low crossing at 63.67 is the next downside target. First resistance is the 50-day moving average crossing at 72.15. Second resistance is November's high crossing at 76.62. First support is last-Monday's low crossing at 65.40. Second support August's low crossing at 63.67.

February cattle closed up $2.45 at 127.55.

February cattle closed higher on Friday marking an upside breakout of the trading range of the past seven-weeks. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extended the rally off September's low, weekly resistance crossing at 130.45 is the next upside target. Closes below the reaction low crossing at 123.30 would confirm that a short-term top has been posted. First resistance is today's high crossing at 127.90. Second resistance is weekly resistance crossing at 130.45. First support is the reaction low crossing at 123.30. Second support is the 50-day moving average crossing at 122.85.

January Feeder cattle closed up $3.13-cents at $145.68.

January Feeder cattle closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends today's rally, the 75% retracement level of the April-August-decline crossing at 151.31 is the next upside target. Closes below the 10-day moving average crossing at 142.16 would temper the friendly outlook. First resistance is the 62% retracement level of the April-August-decline crossing at 146.85. Second resistance is the 75% retracement level of the April-August-decline crossing at 151.31. First support is November's low crossing at 138.27. Second support is October's low crossing at 136.10.