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April hogs closed up $2.98 at $55.95.

April hogs closed sharply higher on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday'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 April extends the decline off November's high, weekly support crossing at 51.27 is the next downside target. Closes above the 20-day moving average crossing at 59.98 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 59.98. Second resistance is the reaction high crossing at 63.33. First support is Wednesday's low crossing at 52.25. Second support is weekly support crossing at 51.27.

April cattle closed down $0.60 at 128.60.

April cattle closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. Closes below the 50-day moving average crossing at 126.33 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 129.60. Second resistance is weekly resistance crossing at 134.55. First support is the 50-day moving average crossing at 126.33. Second support is January's low crossing at 123.50.

April Feeder cattle closed down $0.55 at $145.52.

April Feeder cattle closed lower on Thursday. The mid-range close sets the stage for a steady opening when Friday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends last-Friday's decline, February's low crossing at 142.63 is the next downside target. Closes above the reaction high crossing at 146.88 would temper the bearish outlook. First resistance is the reaction high crossing at 146.88. Second resistance is December's high crossing at 147.83. First support is January's low crossing at 142.63. Second support is December's low crossing at 141.30.

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