U.S. National Lamb Market Update

ST. JOSEPH - May 9/08 - SNS -- The USDA issued its latest national report on lamb market conditions in the United States, showing market volume and prices.

NATIONAL DAILY LAMB REPORT (NEGOTIATED AND FORMULA PURCHASES) - DOMESTIC ONLY

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

Receipts:                Negotiated          Formula
This Period                 2,604              2,913
Week to Date                2,604             13,323
Last Week Total             2,728             13,067
Last Year Total             1,815             16,169

Comments:
  Compared to the bulk of last week, cash sales of slaughter lambs were mostly
steady. Not enough formulated sales since Wednesday to establish a trend.

NEGOTIATED PURCHASES -

Slaughter Lambs:  Live Basis - Choice and Prime

           Head       Weight      Wtd Avg     Wtd Avg       Price        Wtd Avg
          Count        Range       Weight      Dr pct       Range         Price
Wooled
and       2,604       134-190       152.8       50.6     90.00-114.00     105.59
Shorn

FORMULA PURCHASES -

Slaughter Lambs:  Carcass Basis - Choice and Prime

           Head       Weight      Wtd Avg     Wtd Avg       Price        Wtd Avg
          Count        Range       Weight      Dr pct       Range         Price
                   under 55 lbs                               -
             45       55-65 lbs      58.5       46.3    205.00-205.00     205.00
              1       65-75 lbs      71.3       52.8    189.34-189.34     189.34
          1,482       75-85 lbs      79.3       51.1    176.19-198.60     189.32
          1,385     over 85 lbs      88.2       50.1    181.18-197.99     190.86

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

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