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August hogs closed up $0.67 at $83.95.

August hogs closed higher due to short covering on Friday 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 Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, the reaction low crossing at 80.10 is the next downside target. Closes above the 20-day moving average crossing at 86.45 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 86.45. Second resistance is June's high crossing at 90.42. First support is the reaction low crossing at 80.10. Second support is May's low crossing at 78.10.

August cattle closed down $1.85 at 112.97.

August cattle closed lower on Friday as it consolidated some of the rally off June's low. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends the aforementioned rally, June's high crossing at 119.42 is the next upside target. Closes below the 10-day moving average crossing at 112.47 would confirm that a short-term top has been posted. First resistance is June's high crossing at 119.42. Second resistance is May's high crossing at 120.67. First support is June's low crossing at 109.57. Second support is weekly support crossing at 103.87.

August Feeder cattle closed down $1.85 at $142.45.

August Feeder cattle closed lower on Friday as it consolidates some of the rally off June's low. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term prices are possible near-term. If August extends the rally off June's low, June's high crossing at 148.52 is the next upside target. Closes below the 10-day moving average crossing at 140.86 would confirm that a top has been posted. First resistance is June's high crossing at 148.52. Second resistance is May's high crossing at 152.50. First support is the 10-day moving average crossing at 140.86. Second support is June's low crossing at 134.25.

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