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August hogs closed up $0.47 at $74.85.

August hogs closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 75.75 are needed to confirm that a short-term low has been posted. If August resumes this month's decline, weekly support crossing at 71.71 is the next downside target. First resistance is the 20-day moving average crossing at 75.75. Second resistance is the reaction high crossing at 76.70. First support is Monday's low crossing at 71.30. Second support is weekly support crossing at 69.45.

August cattle closed up $3.00 at 151.07.

August cattle closed limit up on Wednesday and above the 20-day moving average crossing at 150.84 confirming that a low has been posted. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If August resumes the decline off June's high, the 50% retracement level of the February-June-rally crossing at 146.11 is the next downside target. First resistance is the reaction high crossing at 152.25. Second resistance is June's high crossing at 154.30. First support is the 38% retracement level of the February-June-rally crossing at 148.04. Second support is the 50% retracement level of the February-June-rally crossing at 146.11.

August feeder cattle closed uip $3.77 at $218.50.

August Feeder cattle closed sharply higher on Wednesday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 222.50 are needed to confirm that a short-term low has been posted. If August extends the decline off June's high, the reaction low crossing at 212.50 is the next downside target. First resistance is the 20-day moving average crossing at 222.50. Second resistance is June's high crossing at 227.30. First support is Tuesday's low crossing at 214.57. Second support is the reaction low crossing at 212.50.

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