February lean hog futures a selling opportunity on more price weakness.
See on the daily bar chart for February lean hog futures that prices have dropped sharply recently, to produce serious near-term technical damage and to also suggest there is more downside price pressure coming. A drop in prices below chart support at last week’s low of $89.55 would become a selling opportunity. The downside price objective would be $84.00 or below. Technical resistance, for which to place a protective buy stop just above, is located at $91.50.
