Opening Livestock Cash Market Comments

ST. JOSEPH - May 9/08 - SNS -- The USDA's daily opening cash market comments for national slaughter cattle markets.

Morning National Slaughter Cattle Review for Thursday, 5/8/08

This report is based on information provided by companies that agreed to
continue to participate in Livestock Mandatory Reporting on a voluntary
basis.

Trading and demand was light to moderate in the Northern Plains and in
Iowa/Minnesota. Compared to Wednesday, dressed sales in Nebraska and Iowa/Minnesota
sold unevenly steady from 148.00-149.00. Compared to last week dressed sales in
Colorado sold 1.00-2.00 lower at 147.00. Trading remains inactive in all other
feeding regions.

Negotiated sales:
Confirmed:    37,971    Week ago:          120,370   Year ago:           189,583
Wk to Date:   66,066    Week ago to Date:  125,275   Year ago to Date:   229,237

Negotiated, Formula and contract purchases delivered to packers today:
Today:       100,100    Week Ago:           95,000    Year Ago:           99,700
Wk to Date:  386,000    Week Ago to Date:  384,700    Year Ago to Date:  365,800

Negotiated, Formula and contract commitments today: (generally for slaughter
within 7 days)
Today:       107,200    Week Ago:          180,400    Year Ago:          261,900
Wk to Date:  352,600    Week Ago to Date:  374,000    Year Ago to Date:  493,400

Negotiated: prices paid for Domestic Slaughter steers and heifers:
(Information derived from the 5 area weighted average LM_CT100)

Live basis                 Steers                     Heifers
Over 80% Choice       92.00-95.00  avg 93.50     92.00-93.00  avg 92.34
65 - 80% Choice       91.00-93.50  avg 92.22     92.00-93.50  avg 92.65
35 - 65% Choice       91.50-93.50  avg 92.96     92.00-93.00  avg 92.36
0 - 35% Choice             -       avg                -       avg
Total all grades      91.00-95.00  avg 92.58     92.00-93.50  avg 92.52

Dressed basis              Steers                     Heifers
Over 80% Choice      148.00-149.00 avg 148.08   147.00-149.00 avg 148.19
65 - 80% Choice      146.00-149.00 avg 148.00   147.00-149.00 avg 147.94
35 - 65% Choice      146.00-149.00 avg 147.58   146.00-149.00 avg 147.71
0 - 35% Choice       146.00-148.00 avg 146.95         -       avg
Total all grades     146.00-149.00 avg 147.70   146.00-149.00 avg 147.82

Formula purchases: prices established on previous reporting day for
slaughtered cattle.

Beef Type:                   Domestic:
Head count priced today:        18,300
Weighted avg weight:               780
Weighted avg net price:         147.09

Slaughter Cows and Bulls:  Dressed Prices
N/A due to expired law and lack of voluntary packer participation

Covers transactions reported at 2:00 pm today.  Comments and market conditions
may include information gathered from voluntary sources, all prices, weights
and head counts are only those gathered through the mandatory reporting system.

Source:  USDA Market News Service, St. Joseph, MO

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STAT News Service