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April hogs closed down $0.75 at $87.18.

April 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $84.92 would confirm that a short-term top has been posted. If April renews the rally off November's low, the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25 is the next upside target. First resistance is last-Thursday's high crossing at $90.68. Second resistance is the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25. First support is the 20-day moving average crossing at $84.92. Second support is the February 18th low crossing at $83.62.

April cattle closed down $0.80 at $118.60

April cattle closed lower on Thursday as it extended the decline off February's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If April extends the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. Closes above the 20-day moving average crossing at $122.37 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.372. Second resistance is February's high crossing at $126.70. First support is today's low crossing at $118.50. Second support is the 50% retracement level of the October-February-rally crossing at $117.72.

April Feeder cattle closed down $2.13 at $139.17.

April Feeder cattle closed lower on Thursday as it extended the decline off January's high. The low-range close sets the stage for a steady to lower 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 the decline off January's high, January's low crossing at $135.03 is the next downside target. Closes above the 20-day moving average crossing at 142.66 would signal that a short-term low has been posted. First resistance is February's high crossing at $145.80. Second resistance is January's high crossing at $147.00. First support today's low crossing at $138.40. Second support is January's low crossing at $135.03.