In this session, you'll learn:

✔ Where crop insurance is headed

✔ Why more producers are stacking coverage

✔ How MPCI, ECO and SCO work together in real scenarios

✔ What policy options can strengthen your protection

✔ Planning considerations and reminders to keep top of mind

Today's close reminds me a little bit of my first pick-up… always stuck in neutral. The million-dollar question: which way does this thing break, when, and how fast? Last week was a ping-pong match between support and resistance. After a weekend breather, a lot of us hoped today would bring some clarity and obvious direction—but we didn’t get much of either. No real trend changes - just a small green close. But a gain’s a gain… even if it’s just a couple cents.

Cash continues to support the optimist as bids hold up in the sale barn and auction receipts likely trickle back this spring. Even fats are digging their heels in - live cattle surprised the upside late last week. Good rule of thumb: you’ve got to hold your ground to gain ground - and feedlots did exactly that. Or as the old Kenny Rodger’s song says.. you’ve got to know when to hold them, know when to… well you know the rest. I don’t like to talk about the fold.

Iowa reported some $237–$240 trade, but most everything else came in at $242–$245. Who would’ve guessed feeders would take a bigger hit from quota changes and strike chatter than fats? But the market has a bad habit of ignoring logistics when these things enter the chat (excuse my generational lingo there). But make no mistake - feedlots deserve every bit of credit after fighting tooth and nail for this much-needed bump.

Meanwhile, packers continue to slash slaughter - between the Nebraska plant closure, a Texas plant fire, and strike talk at one of the largest processing plants in the U.S, that’s likely not breaking pattern anytime soon. I’ve never known a packer to lose money, and typically alternative proteins pick up the slack anyways. But with beef margins in the red, I can’t help but wonder…coincidence or market manipulation? I’ll let you be the judge.

And not to sound like a broken record, but for mercy’s sakes, can someone please revoke Mr. Miller’s screen time? I’ve got a steak in the freezer for anyone that can pull that off. Every time I open Facebook, it’s a fresh batch of his thoughts. I swear that alone knocked my daily screentime back by about an hour at least. Clout chasing doesn’t fix low cattle numbers, and not all attention is good attention. The only “incentive” producers need is fundamentally sound markets and fair prices - please leave the rest to those of us carrying real risk.

Anyways, that’s my rant for today. As always, thanks for tuning in and be sure to lock in protection when it pencils. If that’s not today, don’t rule it out tomorrow. This market loves to humble confidence.

- Beef:

-Fat cattle kill at 107,000vs 108,000 a week ago and 96,000 a year ago

-Choice boxes down 1.57 to $367.76 and select up .82 to $365.35 for a spread of 2.41 on 68 loads

-CME feeder index(Feeder LRP Settlement) for 2/6 came in at $374.66

-Fed Cattle LRP’s ending last week settled at $240.97

- Pork:

-Hog kill at 490,000 vs 474,000 a week ago and 480,000 a year ago.

-Afternoon Pork reported up 2.06 at $95.83 on 321.73 loads

-CME lean hog index on 2/5 reported at 86.57

-CME pork cutout index on 2/6 reported at 95.11

-LRP’s ending 2/9 settled at approximately $86.48

BRAZIL: Minas Gerais/Bahia to MG will see 3”-6”… Upgrade account to read the rest.