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December hogs closed up $1.75 at $56.75.

December hogs closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off August low, June's high crossing at 60.75 is the next upside target. Closes below the 50-day moving average crossing at 54.26 would open the door for additional weakness near-term. First resistance is October's high crossing at 59.95. Second resistance is June's high crossing at 60.75. First support is the 50-day moving average crossing at 54.26. Second support is the reaction low crossing at 50.07.

December cattle closed up $1.80 at 117.98.

December cattle closed higher on Monday as it consolidates some of the decline off October's high. The high-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 117.95 are needed to confirm that a short-term low has been posted. If December extends the decline off October's high, the 50-day moving average crossing at 115.54 is the next downside target. First resistance is October's high crossing at 119.75. Second resistance is weekly resistance crossing at 122.88. First support is the 50-day moving average crossing at 115.54. Second support is the reaction low crossing at 113.80.

November Feeder cattle closed up $0.60 at $155.23.

November Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 153.79 would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 157.44 would confirm that a short-term low has been posted. First resistance is October's high crossing at 159.58. Second resistance is September's high crossing at 159.90. First support is the 50-day moving average crossing at 153.79. Second support is the reaction low crossing at 150.90.

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