Jesse Allen is spending time at the Agribusiness & Water Council of Arizona Annual Meeting and Water Conference today and he learns about water issues due to drought and more on today's show. In the audio version of the show, he talks policy and gets background from Tim Dunn, Arizona State Senator for District 25, in Segment Two. Then later in Segment Four, he learns about the Roosevelt Irrigation District with Donovan Neese, Superintendent and Taylor Howerter, Assistant Superintendent.

We also talk markets throughout the show as Tommy Grisafi of AgBull Media and Nesvick Trading Group joins Market Talk to unpack the Fed's 25 basis point rate hike, a quiet Friday in the grains ahead of next week's Trump-Xi meeting, and another volatile week in cattle. He also breaks down why elevated energy costs are squeezing farmers, ranchers and consumers alike, and what to watch for in next week's commitment of traders report.

Scott Varilek of Kooima Kooima Varilek in Sioux Center, Iowa joins Market Talk to break down a sloppy week in the cattle complex, a struggling hog market, and Friday pressure in grains and oilseeds. He also covers what the reopening of the Santa Teresa port means for Mexican cattle imports and herd rebuild, the growing role of beef-on-dairy genetics, and why energy prices are weighing on both harvest and the fall run of feeder cattle.