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August hogs closed down $0.28 at $70.15.

August hogs 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 August extends the decline off June's high, weekly support crossing at 67.35 is the next downside target. Closes above the 50-day moving average crossing at 74.55 would confirm that a short-term low has been posted. First resistance is July's high crossing at 77.18. Second resistance is June's high crossing at 80.00. First support is Wednesday's low crossing at 68.52. Second support is weekly support crossing at 67.35.

October cattle closed down $0.23 at 107.38.

October cattle posted an inside day with a lower close on Monday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this week's decline, the reaction low crossing at 105.13 is the next downside target. Closes above the 10-day moving average crossing at 108.74 would temper the near-term bearish outlook. First resistance is the 62% retracement level of the February-May-decline crossing at 111.23. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is the reaction low crossing at 105.13. Second support is June's low crossing at 103.50.

August Feeder cattle closed down $0.30 at $150.73.

August Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 149.67 would confirm that a short-term top has been posted. If August renews the rally off May's low, is February's high crossing at 155.98 is the next upside target. First resistance is the 87% retracement level of the February-April-decline crossing at 153.26. Second resistance is February's high crossing at 155.98. First support is the 20-day moving average crossing at 149.67. Second support is the 50-day moving average crossing at 146.16.

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