The cattle complex was unable to break through upside resistance and close at the low end of the range. Today the market could dip to $86.52 early, and a failure to hold this support will foster continuation down to $85.82. Above $87.00 the market is stable with rallies pressing up against $87.75. Unless any significant cash news surfaces, expect a slow day across the cattle complex.

Support: 86.80 & 86.52 Resistance: 87.15 & 87.75

Long Term Trend: Up above 86.62 Short Term Trend: Up above 87.15


The Oct feeders spent most of the day consolidating. Today $98.95 will be resistance and any spark that pushes the market above this could lead to $99.77. Weakness that keeps pressure on the market holding below $98.45 is subject to sell pressure down to $98.05. A daily close below $98.05 again will shift the market back to secondary selling for a drop to $96.55.

Support: 98.05 & 97.67 Resistance: 98.50 & 98.95

Long Term Trend: Up above 98.37 Short Term Trend: Up above 98.62


Dec corn took back some of the previous day's gains, before closing mid range. The overnight trade ran into resistance at 341, and today's pit session should not breach this area. Trade could bounce between 341 and 331 before eventually trading down to support at 322. A daily close below 322 would be a reversing sign that this rally was nothing more that a blip and the market will continue down into harvest. On the other hand a rejection at 322 followed by an upwards reversal will indicate that the contract has made a bottom and wants to move higher again.

Support: 334, 331 & 328 Resistance: 337, 341 & 346

Long Term Trend: Up above 322 Short Term Trend: Up above 334

Hogs: Dec

Dec hogs briefly tested resistance at $53.00 before falling back into the $51.00 area. Given the rally in the overnight session support has move up to $51.57. A pit open above this area will again target the $53.00 area. A break of $51.57 on the open could attract selling down to $50.75 and then $50.30.

Support: 51.57 & 50.75 Resistance: 52.15 & 52.50

Long Term Trend: Up above 51.20 Short Term Trend: Up above 51.57

Brock Thompson Trading, 2525 Lakeview Dr. Amarillo, TX 79109, (806)-350-2400

Make note that intra-day support and resistance prices change throughout the day, so if you have any questions during market hours please give me a call for an update.

These forecasts are solely the opinion of the author and make no representation as to how the market will actually trade. There is substantial risk of loss in trading futures and options; therefore you should carefully consider whether trading is appropriate for you in the light of your financial situation.