Judy Crawford: Meats Report

Published 11/05/2010, 01:59 AM
Updated 07/09/2023, 06:31 AM

DEC HOGS:  They have rallied since I covered my short position.  They will reach the 20 day ma up at around 68.90.  There is resistance above that at 69.50 approximately.  If the downtrend remains intact they should start to stall out in that area.  The one caution is that with the strength in so many markets you could see spill over into the hogs.  Closed 67.62, up .85.

DEC CATTLE:  In my last Update I suggested that they look headed for the 97.50 support.  They reached it yesterday and are trying to hold it again today.  Considering what is going on in the other markets, I would not be surprised to see them rally from this level.  If they do, they will run into resistance around 99.50 up to 100.00.  Closed 97.65, down .05.

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