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February hogs closed up $0.38 at $61.23.

February hogs closed higher on Friday as it consolidated some of the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off November's high, October's low crossing at 58.78 is the next downside target. Multiple closes above the 50-day moving average crossing at 63.65 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 63.65. Second resistance is the reaction high crossing at 66.80. First support is Thursday's low crossing at 59.12. Second support is October's low crossing at 58.78.

February cattle closed down $0.58 at 126.53.

February cattle closed lower on Friday as it consolidated some of the rally off 2018's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. Closes below the 20-day moving average crossing at 124.41 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 127.95. Second resistance is weekly resistance crossing at 134.55. First support is the 20-day moving average crossing at 124.41. Second support is the 50-day moving average crossing at 122.18.

March Feeder cattle closed down $0.10 at $142.82.

March Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, December's low crossing at 140.35 is the next downside target. Closes above the 20-day moving average crossing at 144.98 would temper the near-term bearish outlook. First resistance is last-Monday's high crossing at 147.58. Second resistance is December's high crossing at 147.58. First support is January's low crossing at 142.00. Second support is December's low crossing at 140.35.

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