MEATBOARD PM: Boxed Beef Choice: $264.39 (+0.05); Pork Carcass: $119.91 (+1.44); Chicken Breast: $229.40 (-3.27) (Pork rebounds, chicken drops under $230)

Boxed Beef PM: Choice: $264.39 (+0.05) Select: $237.47 (-0.42); Ch/Se Spread: $26.92; Total Loads: 132 compared to 145 on Wednesday

Another Pullback... One shift the packer has made is to reduce the slaughter schedule to the 650k head per week level. Next week is ‘long week buying for a short week’, and packers will use that to level cash prices out if they can (The Beef)

USDA estimates daily cattle slaughter at 126K head, compared to 125K last week and 118K last year. WTD slaughter at 499K head, compared to 496K last week and 478K last year (Thu)

CME LIVESTOCK: Live Cattle: $144.75 (-1.10); Feeder Cattle: $185.275 (-1.85); Hogs: $93.30 (-4.75); Milk: $20.67 (-0.20) (Cash trade this week got kicked off with $141 action in the South and $147 in the north)

CME GRAINS: Corn: $6.1975 (+4.75); Soybeans: $14.955 (+20.25); Wheat: $7.315 (-31.75); Cotton: $117.12 (-1.20) (Wheat down 70 cents since Monday)

STOCK UPDATE: Dow 30: 33,999.04 (+18.72); Nasdaq: 12,965.34 (+27.22); S&P 500: 4,284.15 (+10.11) (Stocks Mixed On Chinese Economic Concerns And A Rally In Cisco)

ENERGY PRICES: Crude Oil: $90.64 (+2.53); Heating Oil: $3.6468 (+0.0294); Natural Gas: $9.237 (-0.007)

Government Needs to Get Out of the Way; Allow Auction Owners to Drive Packing Capacity and Competition

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

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