October lean hog futures a selling opportunity on more price weakness.
See on the daily bar chart for October lean hog futures that prices are in a steep four-week-old downtrend and have just hit a three-month low. The bears have good downside near-term technical momentum to suggest prices will continue to trend sideways to lower in the near term. A move below solid chart support at $104.00 would become a selling opportunity. The downside price objective would be $96.00 or below. Technical resistance, for which to place a protective buy stop just above, is located at $108.00.
