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LIVESTOCK: December live cattle closed up $1.075 at $130.075 today and nearer the session high. The bears have the slight overall near-term technical advantage. Live cattle bulls' next upside price objective is to close December futures prices above solid resistance at $133.00.
November feeder cattle closed up $0.975 at $161.95 today. Prices closed nearer the session high today and scored a bullish “outside day” up. Bulls have the overall near-term technical advantage. The next upside price objective for the feeder bulls is to close November futures prices above technical resistance at $165.00.
December lean hogs closed down $0.65 at $77.50 today. Prices closed near the session low and hit a two-week low today. Lean hog bulls and bears are on a level overall near-term technical playing field but the bulls are fading fast.