U.S. CATTLE REPORT: May feeders up $8.35 since Friday (highest since 4/4), Boxed beef down $5.08 since Monday; Beef exports up 30% to 17.7K mt; 62 steers (713#) from Salina, KS at $294.00

FRIDAY SALES: Blue Grass; Tri-State; Burwell; Eastern Missouri; Fort Scott; SEMO; Verdigre; Edina; Olean; Wahoo; Santa Teresa; Sugarcreek AND MORE (WATCH LIVE)

DROUGHT MONITOR: The southern High Plains are in the grips of rapidly drying conditions, leading to degradations across Kansas, with conditions bleeding into eastern Colorado and southern Nebraska

U.S. EXPORT SALES: Beef sales of 17,700 MT for 2024 were up 30 percent from the previous week and 27 percent from the prior 4-week average

Slow and Unsure... The open interest drop has stopped this week, an indication that the get-me-out selling is over. Yet, there seems to be waning confidence on just how much futures can regain of the $16 lost since March 14. For now, the 100-day moving average is stopping advances in most active June LC (THE BEEF)

Boxed Beef PM: Choice: $295.80 (-1.01); Select: $289.27 (-1.61); Ch/Se Spread: 6.53; Total Loads: 143 compared to 123 on Wednesday

DAILY CATTLE SLAUGHTER: Thursday slaughter at 118K head, compared to 124K last week and 128K last year. WTD slaughter at 487K head, compared to 482K last week and 505K last year (U.S. CATTLE REPORT)

CME LIVESTOCK: Live Cattle: $175.375 (+0.05); Feeder Cattle: $242.55 (+2.275); Hogs: $10270 (-0.025) (VIEW COMMODITY QUOTES)

CME GRAINS: Corn: $4.2675 (-0.035); Wheat: $5.3675 (+0.0025); Soybeans: $11.3425 (-0.1525); Soybean Meal: $338.00 (-0.70) (VIEW COMMODITY QUOTES)

STOCK UPDATE: Dow 30: 37,775.38 (+22.07); Nasdaq: 15,601.50 (-81.87); S&P 500: 5,011.12 (-11.09) (Stocks Give Up Early Gains And Are Now In The Red)

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