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February hogs closed down $2.30 at $69.30.

February hogs gapped down and closed lower on Friday sa it extends this winter's decline. The low-range close sets the stage for a steady to lower opening when Monday'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 February extends the decline off November's high, monthly support crossing at 66.07 is the next downside target. Closes above the 20-day moving average crossing at 77.31 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 74.20. Second resistance is the 20-day moving average crossing at 77.31. First support is today's low crossing at 68.85. Second support is monthly support crossing at 66.07.

February cattle closed down $3.00 at 150.35.

February cattle gapped down and closed limit down on Friday. The low-close sets the stage for a steady to lower opening when Monday'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 February extends this month's decline, last August's low crossing at 149.00 is the next downside target. Closes above the 20-day moving average crossing at 159.85 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 155.33. Second resistance is the 20-day moving average crossing at 159.85. First support is today's low crossing at 150.35. Second support is last August's low crossing at 149.00.

March feeder cattle closed down $4.50 at $201.82.

March Feeder cattle gapped down and closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 March extends this month's decline, the 62% retracement level of 2014's rally crossing at 196.96 is the next downside target. Closes above the 20-day moving average crossing at 212.51 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 207.32. Second resistance is the 20-day moving average crossing at 212.51. First support is Tuesday's low crossing at 201.25. Second support is the 62% retracement level of 2014's rally crossing at 196.96.

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