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February hogs closed down $0.05 at $54.02.

February hogs closed lower on Thursday and below the 20-day moving average crossing at 54.59. The mid-range close sets the stage for a steady to lower opening when Monday'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 is week's decline, the 50-day moving average crossing at 52.31 is the next downside target. Closes above the 10-day moving average crossing at 55.22 would confirm that a short-term low has been posted. First resistance is Monday's high crossing at 57.32. Second resistance is the reaction high crossing at 60.65. First support is the 50-day moving average crossing at 52.31. Second support is the reaction low crossing at 48.00.

February cattle closed down $2.50 at 108.87.

February cattle closed lower due to profit taking on Friday as it consolidated some of the decline off October's low. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 108.15 would confirm that a short-term top has been posted. If February renews the rally off October's low, August's high crossing at 116.20 is the next upside target. First resistance is Thursday's high crossing at 113.22. Second resistance is August high crossing at 116.20. First support is the 20-day moving average crossing at 108.15. Second support is the 50-day moving average crossing at 105.04.

January Feeder cattle closed down $3.18 at $124.60.

January Feeder cattle closed sharply lower due to profit taking on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 123.49 are needed to confirm that a short-term top has been posted. If January extends the rally off October's low, the reaction high crossing at 132.50 is the next upside target. First resistance is Thursday's high crossing at 129.60. Second resistance is the reaction high crossing at 132.50. First support is the 20-day moving average crossing at 123.49. Second support is the 50-day moving average crossing at 119.80.

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