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February hogs closed down $1.18 at $62.65.

February hogs closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Wednesday's night 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 week's decline, November's low crossing at 59.25 is the next downside target. Closes above the 20-day moving average crossing at 66.00 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 66.00. Second resistance is December's high crossing at 68.83. First support is today's low crossing at 62.13. Second support is November's low crossing at 59.25.

February cattle closed up $1.03 at 122.58.

February cattle closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If February resumes the rally off November's low, the October 26th reaction high crossing at 123.68 is the next upside target. Closes below the reaction low crossing at 120.47 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 123.27. Second resistance is the reaction high crossing at 123.68. First support is the reaction's low crossing at 118.57. Second support is November's crossing at 116.67.

January Feeder cattle closed up $0.83 at $146.20.

January Feeder cattle closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off last Thursday's high, December's low crossing at 143.12 is the next downside target. Closes above the 50-day moving average crossing at 147.91 would open the door for a possible test of the November 21st reaction high crossing at 150.00. First resistance is the 50-day moving average crossing at 147.91. Second resistance is the November 21st reaction high crossing at 150.00. First support is December's low crossing at 143.13. Second support is November's low crossing at 142.67.

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