LIVESTOCK: December live cattle closed up $0.05 at 167.17 today. Prices closed near mid-range today. Bulls have the near-term technical advantage as prices are not far below the recent contract high. Bulls’ next upside price objective is to push and close prices above solid resistance at the contract high of $170.00. The next downside technical breakout objective for the bears is pushing and closing prices below solid technical support at $165.00. First resistance is seen at today’s high of $168.07 and then at $169.00. First support is seen at today’s low of $166.47 and then at $166.00. Wyckoff’s Market Rating: 7.0

January feeder cattle closed down $0.10 at $232.65 today. Prices closed nearer the session low today. Bulls have the near-term technical advantage. The next upside price objective for the feeder bulls is to push and close prices above technical resistance at $235.00. The next downside price breakout objective for the bears is to push and close prices below solid technical support at $230.00. First resistance is seen at today’s high of $233.77 and then at Monday’s high of $234.22. First support is seen at $232.00 and then at $231.00. Wyckoff’s Market Rating: 7.0

December lean hogs closed up $0.40 at $89.95 today. Prices closed near the session high today. More short covering and bargain hunting were featured. Bears still have the slight near-term technical advantage. Prices are in a two-month-old downtrend on the daily bar chart. The next upside price objective for the hog bulls is to push and close prices above solid chart resistance at $91.00. The next downside price breakout objective for the bears is pushing prices below solid technical support at the October low of $86.15. First resistance is seen at Monday’s high of $90.27 and then at $90.65. First support is seen at $89.00 and then at Monday’s low of $88.57. Wyckoff’s Market Rating: 4.5