NATURAL GAS: Henry Hub up 94 cents to $8.45, the highest daily price since a winter storm contributed to near record-high spot prices in February 2021

U.S. CATTLE REPORT: Cattle trade up $4-5 at $140; 121 steers (717#) from Pratt, KS at $200.50 (Best feeder prices in Kansas so far in 2022); Flash drought continues to hammer Southern Plains; Beef exports not great but up from last week

NATIONAL CATTLE TRACKER: The largest steer and heifer string sold on Thursday was 218 steers (1053#) from Ogallala, Nebraska at $166.75. The second largest string was 178 heifers (783#) from El Dorado, Kansas at $172.00

NATIONAL CALF TRACKER: The largest calf string sold on Thursday was 56 steers (442#) from Norton, Kansas at $226.00. The average price paid on Thursday for the top 10 calf strings was $206.45, compared to $205.55 on Wednesday

NATIONAL STEER TRACKER: The largest steer string sold on Thursday on the National Steer Tracker (700-899#) was 142 steers (800#) from Salina, Kansas at $192.50. The average price for the top 10 steer strings sold on Thursday was $183.67, compared to $181.80 on Wednesday

U.S. EXPORT SALES: Beef sales not great but up 22% from last week; Corn sales terrible

DROUGHT MONITOR: Drought improves slightly... 65.59% of the contiguous U.S. in drought this week, compared to 66.48% last week and 56.22% last year

Argentina raised its interest rate to the highest in nearly three years to 69.5%. Inflation in Argentina surged past 70% and is raising serious political pressure on leaders (Bloomberg)

MEATBOARD PM: Boxed Beef Choice: $263.10 (-0.13); Pork Carcass: $123.31 (-0.36); Chicken Breast: $224.95 (-0.22)

Boxed Beef PM: Choice: $263.10 (-0.13) Select: $237.46 (+0.38); Ch/Se Spread: $25.64 Total Loads: 103 compared to 123 on Wednesday

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