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National Daily Direct Slaughter Cattle

ST JOSEPH - May 15/08 - SNS -- Closing trading values for various calsses of cattle were released by the USDA under is mandatory price reporting program.


NATIONAL DAILY DIRECT SLAUGHTER CATTLE REPORT - FORMULATED PURCHASES - SUMMARY
For Primarily Wednesday, 5/14/2008

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

            Head     Week to    Same Day    Same Period   Same Day   Same Period
            Count      Date     Week Ago     Last Week    Year Ago    Last Year

FORMULA NET:
Dressed:   36,105    110,153      30,629      101,675      40,070       87,545
Live:       1,953     28,377       6,506       24,091       2,508       14,742
Total:     38,058    138,530      37,135      125,766      42,578      102,287
NEGOTIATED GRID NET:
Dressed:    6,253     17,876       4,784       17,482       6,378       21,899
Live:       3,280      3,748         764        2,208       1,036        1,586
Total:      9,533     21,624       5,548       19,690       7,414       23,485


FORMULA NET - DRESSED BASIS

                           Head       Weight     Avg       Price         Avg Net
                           Count      Range      Wt        Range          Price
STEER
Over 80% Choice             1,407    735-910     828   142.59-170.78      152.21
65 - 80% Choice             2,641    700-902     802   142.39-170.10      148.04
35 - 65% Choice            10,899    656-925     807   140.28-157.33      147.92
 0 - 35% Choice             6,790    641-878     794   141.57-156.44      148.10
HEIFER
Over 80% Choice             1,044    666-852     748   133.72-171.92      150.89
65 - 80% Choice             2,368    653-810     728   142.96-156.46      147.90
35 - 65% Choice             4,727    683-834     734   136.45-156.70      148.37
 0 - 35% Choice               110    665-821     690   142.01-146.16      145.48
MIXED STEER/HEIFER
Over 80% Choice               830    656-814     728   137.87-172.95      152.45
65 - 80% Choice               517    658-918     727   143.37-170.17      150.62
35 - 65% Choice             1,381    618-921     773   130.97-151.90      146.41
 0 - 35% Choice               313    722-812     750   145.49-155.14      151.03
ALL DRESSED STEERS AND HEIFERS
                           33,027    618-925     781   130.97-172.95      148.42
MIXED STEER/HEIFER/COW
 No trade reported.
DAIRYBRED STEER/HEIFER
Over 80% Choice               892    719-857     814   139.09-146.74      142.82
65 - 80% Choice             1,213    770-879     812   122.20-146.28      140.56
35 - 65% Choice               748    666-842     787   136.58-149.17      142.96
 0 - 35% Choice               225    816-816     816   141.84-141.84      141.84

FORMULA NET - LIVE BASIS

                           Head       Weight     Avg       Price         Avg Net
                           Count      Range      Wt        Range          Price
STEER
Over 80% Choice                34  1,502-1,502  1,502  102.50-102.50      102.50
65 - 80% Choice                         -                    -
35 - 65% Choice               939  1,225-1,315  1,258   93.50-94.00       93.96
 0 - 35% Choice                         -                    -
HEIFER
Over 80% Choice                         -                    -
65 - 80% Choice                         -                    -
35 - 65% Choice               245  1,100-1,150  1,134   94.00-94.00       94.00
 0 - 35% Choice                         -                    -
MIXED STEER/HEIFER
Over 80% Choice                87  1,201-1,478  1,384   94.00-102.50      97.42
65 - 80% Choice                34  1,255-1,255  1,255  102.50-102.50      102.50
35 - 65% Choice                         -                    -
 0 - 35% Choice                         -                    -
ALL LIVE STEERS AND HEIFERS
                            1,339  1,100-1,502  1,250   93.50-102.50      94.63
MIXED STEER/HEIFER/COW
 No trade reported.
DAIRYBRED STEER/HEIFER
Over 80% Choice               124  1,438-1,449  1,441   88.96-88.96       88.96
65 - 80% Choice                         -                    -
35 - 65% Choice               381  1,375-1,400  1,382   84.00-89.00       87.52
 0 - 35% Choice               109  1,347-1,481  1,433   88.96-89.96       89.39

NEGOTIATED GRID NET - DRESSED BASIS

                           Head       Weight     Avg       Price         Avg Net
                           Count      Range      Wt        Range          Price
STEER
Over 80% Choice               324    770-833     814   142.30-151.11      149.10
65 - 80% Choice               660    735-863     826   141.05-156.83      150.92
35 - 65% Choice             1,229    724-868     781   142.50-154.22      149.10
 0 - 35% Choice               373    702-833     805   130.97-147.00      137.33
HEIFER
Over 80% Choice                44    702-702     702   149.38-149.38      149.38
65 - 80% Choice               707    658-836     761   139.93-154.75      144.67
35 - 65% Choice               234    695-759     713   142.75-149.91      146.54
 0 - 35% Choice                73    748-748     748   147.57-147.57      147.57
MIXED STEER/HEIFER
Over 80% Choice               165    645-821     751   144.00-155.85      148.36
65 - 80% Choice               160    713-880     767   138.00-151.72      144.93
35 - 65% Choice             1,494    658-889     758   135.94-149.91      142.89
 0 - 35% Choice               320    597-841     810   137.68-144.00      140.03
ALL DRESSED STEERS AND HEIFERS
                            5,783    597-889     778   130.97-156.83      145.64
MIXED STEER/HEIFER/COW
 No trade reported.
DAIRYBRED STEER/HEIFER
Over 80% Choice                17    741-741     741   141.59-141.59      141.59
65 - 80% Choice               246    759-853     774   122.78-138.00      132.12
35 - 65% Choice               164    761-780     773   124.65-136.97      129.00
 0 - 35% Choice                43    677-677     677   128.23-128.23      128.23

NEGOTIATED GRID NET - LIVE BASIS

                           Head       Weight     Avg       Price         Avg Net
                           Count      Range      Wt        Range          Price
STEER
Over 80% Choice                         -                    -
65 - 80% Choice               239  1,247-1,275  1,260   92.00-94.74       93.31
35 - 65% Choice               476  1,165-1,341  1,249   85.00-91.70       90.33
 0 - 35% Choice               489  1,143-1,357  1,237   84.42-90.00       86.51
HEIFER
Over 80% Choice                         -                    -
65 - 80% Choice               244  1,068-1,203  1,163   92.00-92.02       92.01
35 - 65% Choice               223  1,094-1,169  1,139   87.00-90.70       88.44
 0 - 35% Choice                         -                    -
MIXED STEER/HEIFER
Over 80% Choice                42  1,175-1,175  1,175   90.50-90.50       90.50
65 - 80% Choice                35  1,188-1,188  1,188   90.50-90.50       90.50
35 - 65% Choice             1,304  1,041-1,336  1,235   83.99-92.00       89.25
 0 - 35% Choice               228  1,083-1,263  1,167   83.82-90.00       87.44
ALL LIVE STEERS AND HEIFERS
                            3,280  1,041-1,357  1,221   83.82-94.74       89.35
MIXED STEER/HEIFER/COW
 No trade reported.
DAIRYBRED STEER/HEIFER
 No trade reported.

 REGIONAL ALL STEERS AND HEIFERS: DRESSED BASIS
 REGION:       HEAD COUNT:       AVG WT:       AVG PRICE:
 TX/OK/NM           13,042          798         147.22
 Kansas              8,032          774         147.04
 Nebraska            3,834          790         152.35
 Western Cornbelt      207          722         150.61
 N.East/E.Cornbelt      14          653         150.81
 Colorado            4,432          768         150.81
 N.Central/East Mt     902          772         152.40
 Western States      2,564          738         147.27

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

---

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