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October hogs closed down $0.80 at $63.87.

October hogs closed lower for the fifth day in a row on Tuesday as it extended the decline off last Wednesday's high. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the aforementioned decline, April's low crossing at 62.42 is the next downside target. Closes above the 50-day moving average crossing at 68.11 would confirm that a short-term low has been posted. First resistance is August's high crossing at 71.33. Second resistance is July's high crossing at 72.25. First support is today's low crossing at 63.35. Second support is April's low crossing at 62.42.

October cattle closed up $1.88 at 107.73.

October cattle closed higher due to short covering on Tuesday as it consolidates some of the decline off June's high. 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, diverging and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 110.31 would confirm that a short-term low has been posted. If October extends the decline off July's high, February's low crossing at 99.80 is the next downside target. First resistance is the 20-day moving average crossing at 110.06. Second resistance is the 50-day moving average crossing at 113.07. First support is last Friday's low crossing at 104.75. Second support is February's low crossing at 99.80.

October Feeder cattle closed up $2.78 at $142.28.

October Feeder cattle closed higher on Tuesday as it consolidates some of this month'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, diverging and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 145.80 would confirm that a low has been posted. If October extends the decline off July's high, the 50% retracement level of the 2016-2017-rally crossing at 135.77 is the next downside target. First resistance is August's high crossing at 151.00. Second resistance is July's high crossing at 154.20. First support is Monday's low crossing at 138.55. Second support is the 50% retracement level of the 2016-2017-rally crossing at 135.77.

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