LIVESTOCK: December live cattle closed down $0.07 at $131.82 Wednesday. Prices closed nearer the session low. More mild profit taking was seen after prices last Friday hit a 6.5-month high. The U.S. government partial closure and lack of livestock market information is casting a pall over the livestock futures markets. Generally, the uncertainty of this matter will favor the bears. The cattle futures bulls still have the solid near-term technical advantage. Bulls’ next upside price “breakout” objective is to push and close prices above solid resistance at $133.00. The next downside technical breakout objective for the bears is pushing and closing prices below solid technical support at $130.00. First resistance is seen at last week’s high of $132.25 and then at $132.50. First support is seen at this week’s low of $131.40 and then at $131.00. Wyckoff’s Market Rating: 8.0

November feeder cattle closed up $0.15 at $166.20 Wednesday. Prices closed near the session high and hit another fresh contract high. The feeder bulls have the solid overall near-term technical advantage. The next upside price breakout objective for the feeder bulls is to push and close prices above solid technical resistance at $167.50. The next downside price breakout objective for the bears is to push and close prices below solid technical support at $163.00. First resistance is seen at Wednesday’s contract high of $166.50 and then at $167.00. First support is seen at $165.50 and then at $165.00. Wyckoff’s Market Rating: 8.5

December lean hogs closed up $0.30 at $86.20 Wednesday. Prices closed near the session low and saw some short covering. Significant technical damage has been inflicted with this week’s downside price action. The higher daily price volatility at higher price levels is a warning signal a market top is in place. The hog bulls do still have the overall near-term technical advantage. The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at last week’s high of $88.90. The next downside price breakout objective for the bears is pushing prices below solid technical support at $84.72. First resistance is seen at $86.70 and then at $87.20. First support is seen at this week’s low of $85.85 and then at $85.35. Wyckoff’s Market Rating: 6.0