SHORT-RANGE WEATHER: Significant ice storm across the southern Plains and Mid-South to gradually end today

OKC WEST: The largest string sold this week at OKC West was 130 steers (812#) at $181.75. The second largest string was 97 steers (798#) at $180.50

CATTLE INVENTORY BY STATE: The cattle inventory in Texas was at 12.5 million head in 2023, down 200K head from 2021. The cattle inventory in Nebraska was at 6.5 million head in 2023, down 300K head from 2021.

FRIDAY SALES: Blue Grass Richmond; Tri-State; Burwell; Eastern Missouri; Verdigre; Mankota; Edina; Wahoo; Sugarcreek; Blue Grass Mt. Sterling; Blue Grass Campbellsville; Cleveland County (WATCH LIVE)

U.S. CATTLE REPORT: April LC reach contract highs; Feeders up $2 since Monday after roller coaster week; Best 2 weeks for beef exports in 8 months; Drought improves, now 10% better than last year; Cattle inventory only under 90 million hd 3 times in 70 years

U.S. EXPORT SALES: Corn sales up 75% (Best in 10 weeks); Beef at 25.5K mt (Sales over 25K metric tons back-to-back weeks)

DROUGHT MONITOR: We recently saw drought relief in California with a deluge of Atmospheric Rivers. We're now seeing drought relief in eastern Oklahoma and Texas with perilous ice storms. 61.59% of the contiguous U.S. in drought (D0-D4) this week, compared to 62.92% last week and 72.21% last year

NATIONAL STEER TRACKER: The largest steer string sold on Thursday on the National Steer Tracker (700-899#) was 200 steers (727#) from Ogallala, Nebraska at $186.50. The average price for the top 10 steer strings sold on Thursday was $183.84 compared to $182.08 on Wednesday

NATIONAL CATTLE TRACKER: The largest steer and heifer string sold on Thursday was 205 heifers (486#) from Ogallala, Nebraska at $228.00. The second largest string was 200 steers (727#) from Ogallala, Nebraska at $186.50

Corporate America continues to splurge on its own shares—fueling the new year rally. Indeed, in the first month of 2023, announced buybacks more than tripled to $132 billion from a year ago, reaching the highest total ever to start a year (Bloomberg)

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