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June hogs closed down $3.00 at $89.77.

June hogs gapped down and closed limit down 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. If June extends the decline off April's high, the 50-day moving average crossing at 86.69 is the next downside target. Closes above the 10-day moving average crossing at 95.32 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 95.32. Second resistance is April's high crossing at 99.83. First support is the 50-day moving average crossing at 86.69. Second support is April's low crossing at 86.25.

June cattle closed down $2.98 at 115.38.

June cattle closed sharply lower on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, January's low crossing at 115.10 is the next downside target. Closes above 10-day moving average crossing at 127.73 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 127.73. Second resistance is April's high crossing at 122.38. First support is the 50% retracement level of the 2018-2019-rally crossing at 114.84. Second support the 62% retracement level of the 2018-2019-rally crossing at 112.45.

May Feeder cattle closed down $2.98 at $143.55.

May Feeder cattle closed sharply 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, December's low crossing at 141.85 is the next downside target. Closes above the 10-day moving average crossing at 149.52 would renew the rally off April's low. First resistance is April's high crossing at 152.23. Second resistance is March's high crossing at 155.30. First support is today's low crossing at 143.13. Second support is December's low crossing at 141.85.