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February hogs closed up $0.98 at $67.88.

February hogs closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If February renews the rally off October's low, weekly resistance crossing at 72.88 is the next upside target. Closes below the 50-day moving average crossing at 64.62 would confirm that a short-term top has been posted. First resistance is November's high crossing at 69.50. Second resistance is weekly resistance crossing at 72.88. First support is the 50-day moving average crossing at 64.62. Second support is November's low crossing at 59.25.

February cattle closed down $0.28 at 121.53.

February cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday'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, the October 26th reaction high crossing at 123.68 is the next upside target. Closes below last-Thursday's low crossing at 118.57 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 122.55. Second resistance is the reaction high crossing at 123.68. First support is last-Thursday's low crossing at 118.57. Second support is November's crossing at 116.67.

January Feeder cattle closed up $0.18 at $144.38.

January Feeder cattle closed higher on Friday. The high-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 sideways to lower prices are possible near-term. If January extends the decline off November's high, November's low crossing at 142.67 is the next downside target. Closes above the 20-day moving average crossing at 146.37 are needed to renew the rally off November's low. First resistance is the 20-day moving average crossing at 146.37. Second resistance is the 50-day moving average crossing at 149.10. First support is Tuesday's low crossing at 143.13. Second support is November's low crossing at 142.67.

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