In one embodiment, a multithreaded processor includes a plurality of buffers, each configured to store instructions corresponding to a respective thread. The multithreaded processor also includes a pick unit coupled to the plurality of buffers. The pick unit may pick from at least one of the buffers in a given cycle, a valid instruction based upon a thread selection algorithm. The pick unit may further cancel, in the given cycle, the picking of the valid instruction in response to receiving a cancel indication.