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June hogs closed down $0.08 at $108.65.

June hogs closed lower on Monday as it extended the decline off May's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 50-day moving average crossing at $105.66 is the next downside target. Closes above the 10-day moving average crossing at $111.77 would signal that a short-term low has been posted. First resistance is May's high crossing at $115.00. Second resistance is the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70. First support is the 50-day moving average crossing at $105.66. Second support is April's low crossing at $100.92.

June cattle closed up $0.05 at $115.35.

June cattle closed slightly higher on Monday. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last-Thursday's decline, May's low crossing at $112.57 is the next downside target. Closes above the 50-day moving average crossing at $119.21 are needed to renew this month's rally. First resistance is the 50-day moving average crossing at $119.21. Second resistance is the April 20th high crossing at $119.83. First support is last-Thursday's low crossing at $114.70. Second support is May's low crossing at $112.57.

August Feeder cattle closed up $1.60 at $152.75.

August 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Close above the 50-day moving average crossing at $153.96 would open the door for additional gains near-term. Closes below the 10-day moving average crossing at $147.85 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $153.96. Second resistance is the April 21st high crossing at $154.93. First support is the 10-day moving average crossing at $147.85. Second support is May's low crossing at $141.53.