Today's Friggin' Farm & Ranch Report is a "don't screw up" kind of market. Live cattle in the high 240s, feeders still stout, May corn in the mid-$4s taking some pressure off the bunk. Cash rundown from OKC West, Clovis, Billings, and a horse market with starch back in the cull floor. Inputs: diesel at $5.643/gal, WTI near $98, DAP/urea still painful. Drought hammering the southern Plains and Southwest. War reel: Ukraine grinding, Israel-Hezbollah trading shots, Hormuz still a choke point. Policy risk meter at 48/100. Freedom Framework overall: 41/100 — defensive. Watch your inputs.

Sponsored by Lone Star Stockyards — catalog horse sale Saturday April 11 at 11am Central. lonestarstockyards.com

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