Daily Market Highlights

Cattle futures were lower Thursday, weighed down by bearish outside markets, tied to escalating energy prices and uncertainty stemming from the U.S.-Israel attack on Iran.

Toward the close, Live Cattle futures were an average of $2.25 lower. Feeder Cattle futures were an average of $5.54 lower ($3.05 to $6.42 lower).

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $235-$236/cwt. on a light test in the Texas Panhandle and mostly $235 elsewhere. Dressed delivered prices in the North were mainly $372.

Choice boxed beef cutout value was $1.45 lower Thursday afternoon at $400.30/cwt. Select was $3.72 lower at $392.45.

Corn and Soybean futures were higher Thursday, riding the coattails of Crude Oil futures prices and inflation concerns, while traders added weather premium to Hard Red Winter Wheat futures.

Toward the close, and through near Sep contracts, Corn futures were 5¢ to 6¢ higher. Soybean futures were 6¢ to 7¢ higher. Kansas City HRW Wheat futures were 4¢ higher.

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Major U.S. financial indices extended losses Thursday on elevated Crude Oil futures and inflation worries.

The Dow Jones Industrial Average closed 203 points lower. The S&P 500 closed 18 points lower. The NASDAQ was down 61 points.

Through mid-afternoon, after trading higher earlier in the session, West Texas Intermediate Crude Oil futures (CME) were 55¢ to $1.43 lower through the front six contracts.

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USDA’s Economic Research Service (ERS) increased projected feeder steer prices for this year in the March Livestock, Dairy and Poultry Outlook, based on recent price strength and continued firm demand.

For Medium and Large No. 1 steers weighing 750-800 lbs. and selling at Oklahoma National Stockyards, ERS increased prices $3 in the first quarter to $366/cwt., $4 in the second and third quarters to $367 and $1 in the fourth quarter to $369. The annual average price increased $3 to $367.25.

“The fundamentals surrounding cattle supplies still give support to cattle prices despite volatility in the futures market,” ERS analysts say. “Further, U.S. feeders and stocker operations continue to buoy feeder cattle prices as they try to secure their needs.”

ERS analysts add that February’s weighted-average price for feeder steers weighing 750–800 pounds at Oklahoma National Stockyards was $371.42/cwt.  — $101 above the prior year and the second-highest monthly average price on record.

Live Cattle futures eased higher on Wednesday, bolstered by thoughts that negotiated cash fed cattle prices could increase this week, and despite bearish outside markets. Feeder Cattle futures wobbled, though, with resurgent Corn futures and perhaps positioning ahead of Friday’s Monthly Cattle on Feed report. Broadly, analysts see February placements on par year over year, February marketings down about 7.5% and the March 1 on-feed inventory down about 0.5%.

Toward the close, Live Cattle futures were an average of 66¢ higher. Feeder Cattle futures were an average of 47¢ lower, except for 12¢ higher in Oct.

Negotiated cash fed trade was inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $235-$236/cwt. on a light test in the Texas Panhandle and mostly $235 elsewhere. Dressed delivered prices in the North were mainly $372.

Choice boxed beef cutout value was $1.56 lower Wednesday afternoon at $401.75/cwt. Select was 55¢ lower at $396.17.

Grain and Soybean futures were higher Wednesday, supported by higher crude oil prices and likely inflationary buying.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 18¢ higher. Corn futures were 9¢ higher. Soybean futures were 6¢ to 11¢ higher.

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Major U.S. financial indices closed lower Wednesday, buffeted by rising crude oil futures, a negative inflation reading and comments by the FOMC in its announcement to leave interest rates unchanged.

First, the Producer Price Index for final demand increased 0.7% in February, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, which was significantly higher than expected. On an unadjusted basis, the index for final demand rose 3.4% for the 12 months ended in February, the largest 12-month advance since increasing 3.4% in February 2025.

Next, according to Fed Chair Jerome Powell, in press-conference comments, “Inflation has eased significantly from its highs in mid-2022 but remains somewhat elevated relative to our 2% percent longer-run goal. Estimates based on the Consumer Price Index and other data indicate that total PCE prices rose 2.8% over the 12 months ending in February and that, excluding the volatile food and energy categories, core PCE prices rose 3.0%. These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs. Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by supply disruptions in the Middle East.

The Dow Jones Industrial Average closed 768 points lower. The S&P 500 closed 91 points lower. The NASDAQ was down 327 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $3.52 to $4.06 higher through the front six contracts.

Cattle futures wobbled Friday with uneven outside markets and wonderment about the potential strike at the JBS plant in Greeley next week.

Live Cattle futures closed an average of 42¢ lower. Feeder Cattle futures were mixed, from an average of 64¢ lower to an average of 68¢ higher. Week to week on Friday, Live Cattle futures closed an average of $2.54 lower and Feeder Cattle futures closed an average of $7.26 lower.

Negotiated cash fed trade was limited on moderate to good demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $233-$235/cwt.

Elsewhere, trade was mostly inactive on light demand.

For the week, FOB live prices were mainly $5 lower at mostly $235 in Kansas, Nebraska and the western Corn Belt. Dressed delivered prices in the North were mainly $8 lower at mostly $372. The previous week, FOB live prices in the Texas Panhandle were $240.

Choice boxed beef cutout value was 83¢ higher Friday afternoon at $397.92/cwt. Select was 72¢ higher at $391.54. Week to week on Friday, Choice boxed beef cutout value was $10.00 higher and Select was $12.59 higher.

Estimated total cattle slaughter last week of 525,000 head was 4,000 head more than the previous week but 61,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 5.5 million head was 606,000 head less (-9.9%) than the same time last year. Estimated year-to-date beef production of 4.9 billion pounds was 406.8 million pounds less (-7.6%).

Grain futures were higher Friday, led by wheat.

Kansas City HRW Wheat futures closed 12¢ to 17¢ higher through Jly ‘27 then mostly 11¢ higher with likely short covering and perhaps some weather premium.

Corn futures were 2¢ to 4¢ higher through near Sep and then fractionally higher to 1¢ higher, helped along by higher crude oil prices.

Soybean futures closed 2¢ to 6¢ lower with likely profit taking.

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Major U.S. financial indices continued lower Friday as crude oil prices kept gaining.

The Dow Jones Industrial Average closed 119 points lower. The S&P 500 closed 40 points lower. The NASDAQ was down 206 points.

West Texas Intermediate Crude Oil futures (CME) were $1.24 to $2.98 higher through the front six contracts.

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U.S. beef exports continue to show resilience, despite the lack of access to Chinese markets, according to the latest data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Beef exports in January totaled 92,558 metric tons (mt), down 10% year-over-year. However, value fell just 3% to $780.1 million, as exports have commanded higher prices. Still, prices are not being maximized to the degree that would be possible with China back in the mix. When excluding China from the January results, exports increased 5% in volume and climbed 16% in value. January beef shipments trended higher year-over-year to Korea, Japan, Taiwan, the Caribbean, the ASEAN and South America, with export value also increasing to Mexico, Canada and Central America.

Beef export value per head of fed slaughter was more than $415, the highest since March and reflecting solid demand in other markets.

Beef variety meat exports in January increased 6% year over year to 27,511 mt, the most in more than four years. Beef variety meat export value soared 46% to a record $126 million.

“Beef variety meat value reaching new heights for the second consecutive month is great news for cattle producers and for the entire supply chain,” says Dan Halstrom, USMEF president and CEO. “With cattle numbers being tight, it is more critical than ever to maximize the value of every animal. And while much of this export growth was driven by tongues and skirts going to Japan, demand was strong in a wide range of markets.”

For broader perspective, U.S. pork exports trended higher year-over-year in January with volume 3% more than a year earlier at 250,861 mt and value 4% more at $692.1 million.

Cattle futures firmed Thursday, helped by rising wholesale beef values and the cash premium to futures.

Toward the close, Live Cattle futures were an average of $1.40 higher, except for 95¢ lower in the back contract. Feeder Cattle futures were an average of 61¢ higher, except for 5¢ lower in spot March and $2.57 lower in the back contract.

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on moderate demand in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. So far, this week, FOB live prices in both regions are mostly $5 lower at mainly $235/cwt. Dressed delivered prices are mostly $8 lower at mainly $372.

In the Southern Plains, trade was limited on moderate demand in the Texas Panhandle and mostly inactive on light demand in Kansas. So far this week, FOB live trades are $5 lower in Kansas at $235. FOB live prices in the Texas Panhandle last week were $240.

Choice boxed beef cutout value was 39¢ higher Thursday afternoon at $397.09/cwt. Select was $1.57 higher at $390.82.

Surging oil prices helped lift Corn and Soybean futures on Thursday.

Toward the close, and through near Sep contracts, Corn futures were fractionally higher to 5¢ higher. Soybean futures were 2¢ to 13¢ higher. Kansas City HRW Wheat futures 16¢ higher in waning March and then fractionally lower to 1¢ lower.

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Major U.S. financial indices closed sharply lower Thursday as crude oil prices continued higher, along with worries about disruptions in supply chains and pressure on the broader economy.

The Dow Jones Industrial Average closed 739 points lower. The S&P 500 closed 103 points lower. The NASDAQ was down 404 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $4.98 to $9.06 higher through the front six contracts.

Cattle futures lost ground Wednesday, as bearishness increased in outside markets.

Toward the close, Live Cattle futures were an average of $1.97 lower. Feeder Cattle futures were an average of $5.19 lower.

Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were $5 lower at mostly $235/cwt. Dressed delivered prices were $8 lower at $372.

Trade was light on moderate demand in the western Corn Belt, where FOB live prices were $5-$7 lower at $233-$235. Dressed delivered prices last week were $380.

In the Southern Plains, trade was limited on moderate demand. Although too few transactions to trend, there were some early FOB live trades in Kansas at $235. FOB live prices in the Southern Plains last week were $240.

Choice boxed beef cutout value was $2.03 higher Wednesday afternoon at $396.70/cwt. Select was $2.48 higher at $389.25.

Grain and Soybean futures were higher Wednesday, supported by resurgent oil prices and apparent inflationary buying.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures 5¢ to 6¢ higher. Corn futures were 8¢ to 9¢ higher. Soybean futures were 10¢ to 13¢ higher.

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Higher oil prices and concerns about inflation spun by the U.S.-Israel attack on Iran weighed on major U.S. financial indices Wednesday.

The Dow Jones Industrial Average closed 289 points lower. The S&P 500 closed 5 points lower. The NASDAQ was up 19 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $4.50 to $4.85 higher through the front six contracts.

Cattle futures gained Tuesday, helped by the decline in Crude Oil futures and the continued increase in wholesale beef values.

Toward the close, Live Cattle futures were an average of $2.49 higher. Feeder Cattle futures were an average of $3.27 higher.

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to inactive on light demand elsewhere through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early dressed delivered sales in Nebraska at $372/cwt.

Across all regions last week, FOB live prices were $240 and dressed delivered prices were $380.

Choice boxed beef cutout value was $3.38 higher Tuesday afternoon at $394.67/cwt. Select was $3.15 higher at $386.77.

Grain futures were lower Tuesday with sharply lower Oil prices and little change in the World Agricultural Supply and Demand Estimates (see below).

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were unchanged to 9¢ lower. Corn futures were mostly unchanged to 1¢ lower. However, Soybean futures were 5¢ to 8¢ higher.

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Major U.S. financial indices closed little changed Tuesday after a wild ride.

The Dow Jones Industrial Average closed 34 points lower. The S&P 500 closed 14 points lower. The NASDAQ was up 1 point.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.97 higher to $8.07 lower through the front six contracts.

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USDA’s Economic Research Service raised the projected weighted average five-area direct fed steer price for the first three quarters of this year in the latest World Agricultural Supply and Demand Estimates (WASDE).

Compared to the previous month, based on recent prices and continued strong demand, prices increased $2 in the first quarter to $240/cwt., $3 in the second quarter to $241 and $2 in the third quarter to $242. The fourth-quarter price was unchanged at $245. The annual average price increased $2 to $240.

This year’s beef production was estimated 110 million pounds less than last month at 25.8 billion pounds. Beef production would be 191 million pounds less (-0.7%) than last year.

“Beef production is forecast lower on the slower-than-expected pace of slaughter through early March, partially offset by heavier dressed weights,” say ERS analysts.

Among other WASDE highlights…

Corn

The 2025/26 U.S. corn outlook was unchanged. The season-average corn price received by producers was unchanged at $4.10 per bushel.

Soybeans

U.S. 2025/26 soybean supply and use projections include increased imports and crush, and unchanged ending stocks.

The season-average soybean price was projected unchanged at $10.20 per bushel. The soybean meal price was raised $5 to $300 per short ton. The soybean oil price was projected 2¢ higher at 55¢ per pound.

Wheat

There were no changes for the 2025/26 U.S. wheat supply and use categories. The season-average farm price was forecast 5¢ higher at $4.95 per bushel, based on NASS prices reported to date and price expectations for the remainder of the marketing year.

Cattle futures were sharply lower again Monday, but off sessions lows, pressured by a range of factors, including last week’s lower negotiated cash fed cattle prices, news that the JBS plant in Greeley, Colo. was cancelling slaughter at the plant this week ahead of the potential strike, and spiking Crude oil futures pressuring outside markets.

Toward the close, Live Cattle futures were an average of $3.58 lower. Feeder Cattle futures were an average of $5.31 lower.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $240/cwt., which was $4 lower in the Southern Plains, generally $2 lower in Nebraska and $3 lower in the western Corn Belt. Dressed delivered prices were $380, which was $3 lower in Nebraska and $2-$3 lower in the western Corn Belt.

Last week’s five-area direct weighted average FOB live fed steer price was $2.77 lower at $239.94/cwt. The weighted averaged dressed delivered fed steer price was $2.78 lower at $379.82.

Last week’s five-area direct weighted average FOB live fed steer price was $2.77 lower at $239.94/cwt. The weighted averaged dressed delivered fed steer price was $2.78 lower at $279.82.

Choice boxed beef cutout value was $4.07 higher Monday afternoon at $391.29/cwt. Select was $4.67 higher at $383.62.

Grain and soybean futures were lower on likely profit taking from last week’s sharp gains, as well as likely producer selling. Keep in mind that the World Agricultural Supply and Demand Estimates are due out Tuesday.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 3¢ to 5¢ lower. Corn futures were mostly 4¢ to 8¢ lower. Soybean futures were mostly 1¢ to 4¢ lower.

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Major U.S. financial indices ended higher Monday after early pressure. Late-session gains were attributed to decelerating oil prices and comments by President Trump suggesting the U.S.-Israel attack on Iran might be nearing an end.

The Dow Jones Industrial Average closed 239 points higher. The S&P 500 closed 55 points higher. The NASDAQ was up 308 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $3.12 lower to 56¢ higher through the front six contracts.

Cattle futures were sharply lower Friday, pressured by bearish outside markets and another week of lower negotiated cash fed cattle prices. Also on Friday, the United Food and Commercial Workers Local 7, which represents workers at the JBS plant, gave notice that it was cancelling its extension agreement effective 11:59 p.m., March 15. So, workers could go on strike as soon as March 16 (see related news below).

Live Cattle futures closed an average of $4.13 lower. Feeder Cattle futures closed an average of $7.26 lower.

Week to week on Friday, Live Cattle futures closed an average of $1.33 higher (47¢ to $2.35 higher), recapturing some of the previous week’s losses. Feeder Cattle futures closed an average of $1.01 higher (20¢ higher at the front to $1.72 higher toward the back of the board).

Negotiated cash fed cattle trade ranged from active on good demand in Nebraska to moderate on good demand in the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service.

FOB live prices were $240/cwt., which was generally $2 lower in Nebraska and $3 lower in the western Corn Belt. Dressed delivered prices were $380, which was $3 lower in Nebraska and $2-$3 lower in the western Corn Belt.

Trade was limited on moderate to good demand in the Southern Plains with too few transactions to trend. FOB prices the previous week were $244.

Choice boxed beef cutout value was 33¢ higher Friday afternoon at $387.22/cwt. Select was $1.66 lower at $378.95. Week to week on Friday, Choice boxed was $7.38 higher and Select was $4.64 higher.

Estimated total cattle slaughter last week of 521,000 head was 2,000 head more than the previous week but 58,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 5 million head was 555,000 head fewer (-10%) than the same time last year. Year-to-date estimated total beef production of 4.4 billion pounds was 374.9 million pounds less (-7.8%).

Grain and Soybean futures continued higher Friday, buoyed by higher energy prices and inflationary hedging by funds.

Kansas City HRW Wheat futures closed 23¢ to 31¢ higher through May ‘27. Soybean futures closed 10¢ to 21¢ higher through near Nov and then mostly 2¢ to 8¢ higher. Corn futures closed mostly 4¢ to 8¢ higher. Week to week on Friday, Corn futures closed an average of 13’4¢ higher through the front six contracts, an average of 20’6¢ higher in the last two weeks.

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Major U.S. financial indices sagged lower Friday, weighed down by sharply higher Crude Oil futures, tied to the U.S.-Israel attacks on Iran, as well as an unexpectedly dismal employment reading.

Rather than gaining, as many anticipated, total nonfarm payroll employment edged down by 92,000 in February, and the unemployment rate edged higher to 4.4%, according to the U.S. Bureau of Labor Statistics.

In February, average hourly earnings for all employees on private nonfarm payrolls rose by 15¢ to $37.32. Over the past 12 months, average hourly earnings have increased by 3.8%.

The Dow Jones Industrial Average closed 453 points lower. The S&P 500 closed 90 points lower. The NASDAQ was down 361 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $2.82 to $9.89 higher through the front six contracts. Week to week on Friday, those contracts were an average of $14.84 higher.

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As mentioned earlier, the United Food and Commercial Workers Local 7, which represents workers at the JBS plant in Greeley, Colo., gave notice that it was cancelling its extension agreement, paving the way for workers to potentially go on strike as soon as March 16. Uncertainty caused by the potential continues to roil Cattle futures prices.

Packers are struggling with historically high fed cattle prices despite historically high wholesale beef prices and even higher retail beef prices. All has everything to do with historically low cattle numbers, in tandem with extraordinary consumer beef demand. The market logic is straightforward.

Yet, Senator Chuck Schumer (D-NY) and other Senate Democrats took aim at high beef prices last week with legislation that could do nothing but drive prices higher.

The Family Grocery and Farmer Relief Act (FGFRA) bill introduced by Senator Schumer and others would, according to the authors, “… break up dominant meatpackers, rein in foreign controlled corporate giants, and use federal tools to stop unfair pricing that drives up grocery bills for American families and hurts workers, farmers, and ranchers.”

Among other things, the FGFRA would make it unlawful for a major meatpacking conglomerate to control more than one major type of meat, forcing the biggest players to choose a line of business and impose hard caps on the concentration of beef markets at both the regional and national levels.

“Schumer’s bill and other efforts to villainize meat packers is simply reckless election year pandering that threatens to damage a crucial industry at the center of every American meal,” says Julie Anna Potts, Meat Institute President and CEO. “If the Senator is trying to make meat and poultry more affordable for consumers, this is the wrong approach. It will have the opposite effect. While this may be just a messaging bill to Senator Schumer, it is real life for American families, farmers and ranchers and for the 3.2 million Americans employed throughout the industry.”

Cattle futures were mixed on Thursday.  

Toward the close, Live Cattle futures were an average of 34¢ higher on continued fundamental strength.

Feeder Cattle futures were an average of $1.31 lower with likely profit taking from the previous session’s sharp gains.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $244/cwt. in the Southern Plains, $239-$243 in Nebraska and mainly $243 in the western Corn Belt. Dressed delivered prices were mainly $383 in Nebraska and $382-$383 on a light test in the western Corn Belt.

Choice boxed beef cutout value was $1.68 lower Thursday afternoon at $386.89/cwt. Select was 26¢ higher at $380.61.

Grain and Soybean futures bounced higher Thursday, supported by higher energy prices and some likely early inflationary hedging by funds.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 19¢ to 22¢ higher. Corn futures were 8¢ to 10¢ higher. Soybean futures were 7¢ to 10¢ higher.

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Major U.S. financial indices closed lower Thursday, pressured by resurgent Crude Oil futures, which climbed in response to the U.S.-Israel attacks on Iran.

The Dow Jones Industrial Average closed 784 points lower. The S&P 500 closed 38 points lower. The NASDAQ was down 58 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.39 to $4.80 higher through the front six contracts.

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USDA issued the U.S. and Canadian Cattle inventory report this week.

Although the U.S. beef cow herd at the beginning of this year was 284,000 head fewer (-1%) year over year at 27.6 million, the Canadian herd increased by 64,900 head (1.9%) to 3.4 million head. Beef heifers for replacement increased 41,700 head (0.9%) in the U.S. and 24,700 head (4.8%) in Canada. Total cattle and calves in the United States and Canada was about even year over year at 97.3 million head, representing a decrease of 316,900 head (-0.4%) in the United States and an increase of 275,000 head (2.5%) in Canada.

Recently surging wholesale beef values and more positive outside market helped Cattle futures rally higher Wednesday.

Toward the close, Live Cattle futures were an average of $4.11 higher. Feeder Cattle futures were an average of $6.96 higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $244/cwt. in the Southern Plains, $239-$243 in Nebraska and mainly $243 in the western Corn Belt. Dressed delivered prices were mainly $383 in Nebraska and $382-$383 on a light test in the western Corn Belt.

Choice boxed beef cutout value was 52¢ higher Wednesday afternoon at $388.57/cwt. Select was $1.77 higher at $380.35.

Grain and Soybean futures trended lower Wednesday, as traders appeared to reduce some risk premium based on the U.S.-Israel attack on Iran, as well as domestic weather.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 7¢ to 13¢ lower. Corn futures were 2¢ lower. Soybean futures were 1¢ to 4¢ lower.

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Major U.S. financial indices gained Wednesday, following the early-week selloff tied to the U.S.-Israel attack on Iran, led by tech stocks and supported by decelerating Crude Oil futures and a more bullish labor reading than expected.

Private sector employment increased by 63,000 jobs in February and pay was up 4.5% year-over-year according to the February ADP National Employment Report^®.

“We’ve seen an increase in hiring and pay gains remain solid, especially for job-stayers,” says Dr. Nela Richardson, ADP chief economist. “But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a record low in February.”

The Dow Jones Industrial Average closed 238 points higher. The S&P 500 closed 52 points higher. The NASDAQ was up 290 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 50¢ to $1.12 higher through the front six contracts.