Dec cattle pushed up against resistance at the $86.50 area. A failure today to push above this area is a warning that a correction is coming that would take the market back down to $85.12. An open above $86.50 or push above will allow continuation to next resistance level at $87.15. Another round of heavy deliveries yesterday will put pressure on the front month contract today.

Support: 86.17 & 85.62 Resistance: 86.45 & 87.12

Long Term Trend: Up above 84.82 Short Term Trend: Up above 85.22


Feeders could rally to $96.30 in the near term, but watch for the market to stall against this resistance. The technical structure looks friendly above $94.10 and only a close back below this would turn the market bearish again. For today a push above $95.75 expect $96.30. A break of $95.45 the market will continue to $94.75.

Support: 95.45 & 94.75 Resistance: 95.75 & 96.30

Long Term Trend: Down below 96.30 Short Term Trend: Up above 94.10


A big rally was seen in the corn on lack of selling and technical buying. The market traded through last weeks highs in the overnight session before settling slightly lower. Short term charts are indicating that the market wants to have a minor correction that could reach down to 381. The market turned back bullish with yesterday's rally and will need to stay above 378 today. A break back below 378 would reverse yesterdays rally and the market would most likely retreat to the mid 350's. On the upside a push above 387 today will add strength back to the market and push to new highs.

Support: 385, 381 & 378 Resistance: 387, 393 & 395

Long Term Trend: Down below 378 Short Term Trend: Down below 385

Hogs: Dec

Another day of sideways trading was the feature in the Hog complex. Most traders continue to wait for a break out before participating in the action. Today above $54.27 the market is friendly to $54.87, below $54.27 the market could dip to $53.80. Closing below $53.80 would send the market to $53.12. Taking out the base highs the market has made the last six trading sessions would be considered bullish, attracting secondary buying allowing a quick run to $56.75.

Support: 54.27 & 53.80 Resistance: 54.75 & 55.42

Long Term Trend: Up above 53.95 Short Term Trend: Up above 53.90

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.