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July hogs closed down $3.40 at $72.85.

July hogs closed sharply lower on Monday as it extends the decline off April'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month's decline, the July-2018 low crossing at 69.80 is the next downside target. Closes above the 20-day moving average crossing at 83.39 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 80.80. Second resistance is the 20-day moving average crossing at 83.39. First support is today's low crossing at 72.60. Second support is the July-2018 low crossing at 69.80.

August cattle closed up $0.20 at 102.43.

August cattle closed higher on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off March's high, weekly support crossing at 100.40 is the next downside target. Closes above last-Tuesday's high crossing at 106.48 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 107.18. Second resistance is the 50-day moving average crossing at 108.86. First support is today's low crossing at 101.97. Second support is weekly support crossing at 100.40.

August Feeder cattle closed down $1.90 at $131.78.

August Feeder cattle closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off March's high, weekly support crossing at 128.57 is the next downside target. Closes above the 20-day moving average crossing at 137.08 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at crossing at 137.08. Second resistance is the reaction high crossing at 141.08. First support is today's low crossing at 130.95. Second support is weekly support crossing at 128.57.