US Agriculture (Meats) Market Report
Hog Market Recap
Feb Hogs closed sharply lower on the session for the 3rd day running and closed near the lows for the 3rd day too.
The market is already down as much as 442 pts off of Wednesday's highs. The market traded moderately lower on the session early finding fairly aggressive technical selling to push futures to the lowest level since November 14th.
Cash markets from terminals traded steady to 1.00 lower. Weakness in Pork cut-out values late Friday added to the negative tone.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.