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December hogs closed down $0.20 at $60.65.

December hogs closed lower on Thursday. The low-range close sets the stage for a steady to lower 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. Multiple close above the 50-day moving average crossing at 66.71 would temper the near-term bearish outlook. If December extends the decline off October's high, September's low crossing at 57.75 is the next downside target. First resistance is September's high crossing at 72.73. Second resistance is the 50% retracement level of the April-September-decline crossing at 73.89. First support is Wednesday's low crossing at 60.05. Second support September's low crossing at 57.75.

December cattle closed up $0.03 at 119.33.

December cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 87% retracement level of the March-September-decline crossing at 120.85 is the next upside target. Closes below the reaction low crossing at 117.35 would confirm that a short-term top has been posted. First resistance is November's high crossing at 120.33. Second resistance is the 87% retracement level of the March-September-decline crossing at 120.85. First support is the reaction low crossing at 117.35. Second support is the 50-day moving average crossing at 113.65.

January Feeder cattle closed down $1.48-cents at $142.60.

January Feeder cattle closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends today's decline, the 50-day moving average crossing at 140.45 is the next downside target. If January resumes the rally off September's low, the 75% retracement level of the April-August-decline crossing at 151.31 is the next upside target. First resistance is the 62% retracement level of the April-August-decline crossing at 146.85. Second resistance is the 75% retracement level of the April-August-decline crossing at 151.31. First support is the 50-day moving average crossing at 140.45. Second support is the reaction low crossing at 138.52.