Episode Details

Live cattle just printed an all-time record — $251.77 on the continuous chart. Cash cattle in Iowa hit $250. And crude oil ripped above $104 after the U.S. Navy blockaded Iranian ports. Diesel's north of $5.60 and headed to $6. Urea is up 46% year-over-year. It's a record-revenue, record-cost market — and the guys who keep their head are the ones who'll still be ranching next year.

Today's show:

• Livestock — June live cattle $249.20 (contract high), feeders $374.82, hogs $103.72 (4th straight down), cash cattle $250 in Iowa
• Grains — Corn flat at $4.40¼ (faded the rally), beans down 13½¢, wheat up double digits on the war bid
• Energy & Inputs — WTI $99.08, diesel $5.64/gal, urea $838/ton, DAP $863/ton, fertilizer supply at 75% of normal
• Rates & Metals — Fed funds 3.50–3.75%, prime 6.75%, gold $4,742/oz
• Cattle Deep Dive — JBS Greeley strike resolved (93% ratification, 3,800 workers back), boxed beef inverted (Select above Choice), Cattle on Feed report Friday
• War Reel — U.S. naval blockade operational, Hormuz exports down 76%, 400+ tankers stranded, Houthi threat to Bab el-Mandeb, fertilizer crisis
• Policy — Farm Bill stalled, new federal grazing MOU, Colorado River water cuts, WOTUS update
• On This Day — April 13, 1860: First Pony Express rider arrives in Sacramento

Brought to you by Lone Star Stockyards — real people, real competition, real prices.

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