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February hogs closed up $0.90 at $68.52.

February hogs closed higher on Friday as it consolidated some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 69.10 would confirm that a short-term low has been posted. If February renews the aforementioned decline, the 62% retracement level of the August-November-rally crossing at 65.43 is the next downside target. First resistance is the 50-day moving average crossing at 69.10. Second resistance is the reaction high crossing at 72.25. First support is November's low crossing at 66.25. Second support is the 62% retracement level of the August-November-rally crossing at 65.43.

February cattle closed up $1.88 at 121.03.

February cattle closed 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 have turned neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 122.03 would confirm that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at 122.03. Second resistance is the reaction high crossing at 126.78. First support is Monday'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 $1.50 at $147.75.

January Feeder cattle closed 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 turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 149.77 would confirm that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at 149.77. Second resistance is the 50-day moving average crossing at 153.11. First support is Monday'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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