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Daily Summary of Slaughter Cattle Prices

ST JOSEPH - May 11/04 - SNS -- Daily review of slaughter cattle sales, weights and average prices paid for live and dressed steers and heifers.


NATIONAL DAILY DIRECT SLAUGHTER CATTLE - NEGOTIATED PURCHASES - Summary
Roundup for: Monday, 5/10/04

Domestic source only. Live sales based on net weights FOB the feedlot after a
3-4% shrink. Dressed sales based on hot carcass weights delivered to the plant.

NEGOTIATED CASH:
Confirmed:       3,630            Week ago:    8,818           Year ago:  17,634
Week to Date:    3,630            Week ago:    8,818           Year ago:  17,634

NEGOTIATED GRID BASE:
Confirmed:       3,456            Week ago:    3,415           Year ago:  none
Week to Date:    3,456            Week ago:    3,415           Year ago:  none

   Trading was slow Monday on light demand. Not enough sales to establish an adequate
market trend. Last week, live sales traded at 90.00 to 92.00 and dressed sales at
145.00 to 147.00.

NEGOTIATED CASH SALES

                    Head    Wtd Avg    Avg Wt    Wtd Avg      Price     Wtd Avg
                   Count   Dress Pct    Range     Weight      Range      Price
STEER - LIVE - FOB
 Over 80% Choice                          -                      -
 65 - 80% Choice                          -                      -
 35 - 65% Choice      204     63.0   1,200-1,200  1,200.0   90.50-90.50    90.50
  0 - 35% Choice       12      0.0   1,250-1,250  1,250.0   91.50-91.50    91.50
 Total all grades     216     59.5   1,200-1,250  1,202.8   90.50-91.50    90.56
STEER - DRESSED - DELIVERED
 Over 80% Choice       58     64.0     732-890      798.4  145.00-148.00  147.28
 65 - 80% Choice      178     63.7     787-787      787.0  145.00-145.00  145.00
 35 - 65% Choice       80     62.0     700-700      700.0  148.00-148.00  148.00
  0 - 35% Choice                          -                      -
 Total all grades     316     63.3     700-890      767.1  145.00-148.00  146.18
HEIFER - LIVE - FOB
 No trade reported.
HEIFER - DRESSED - DELIVERED
 Over 80% Choice                          -                      -
 65 - 80% Choice                          -                      -
 35 - 65% Choice       89     63.5     699-699      699.0  144.00-144.00  144.00
  0 - 35% Choice                          -                      -
 Total all grades      89     63.5     699-699      699.0  144.00-144.00  144.00
MIXED STEER/HEIFER - LIVE - FOB
 No trade reported.
MIXED STEER/HEIFER - DRESSED - DELIVERED
 Over 80% Choice       30     61.4     700-882      735.5  145.00-146.00  145.43
 65 - 80% Choice      226     62.8     725-825      768.0  144.50-149.00  147.71
 35 - 65% Choice    1,326     61.3     651-750      735.8  145.00-150.00  148.32
  0 - 35% Choice                          -                      -
 Total all grades   1,582     61.5     651-882      740.4  144.50-150.00  148.18
ALL BEEF TYPE STEERS AND HEIFERS - LIVE - FOB
 Total all grades     216     59.5   1,200-1,250  1,202.8   90.50-91.50    90.56
ALL BEEF TYPE STEERS AND HEIFERS - DRESSED - DELIVERED
 Total all grades   1,987     61.9     651-890      742.8  144.00-150.00  147.67
DAIRYBRED STEER/HEIFER - LIVE - FOB
 Over 80% Choice       56     60.0   1,336-1,348  1,340.3   84.00-84.90    84.58
 65 - 80% Choice      128     62.5   1,250-1,325  1,272.3   90.00-91.50    90.45
 35 - 65% Choice                          -                      -
  0 - 35% Choice                          -                      -
 Total all grades     184     61.8   1,250-1,348  1,293.0   84.00-91.50    88.66
DAIRYBRED STEER/HEIFER - DRESSED - DELIVERED
 Over 80% Choice      845     59.4     755-1,023    789.7  137.00-145.00  141.66
 65 - 80% Choice       53     59.6     756-825      814.6  137.00-146.00  138.57
 35 - 65% Choice       70     61.0     750-750      750.0  142.00-142.00  142.00
  0 - 35% Choice                          -                      -
 Total all grades     968     59.5     750-1,023    788.2  137.00-146.00  141.51
MIXED STEER/HEIFER/COW - LIVE - FOB
 No trade reported.
MIXED STEER/HEIFER/COW - DRESSED - DELIVERED
 No trade reported.


NEGOTIATED GRID BASE PRICE SALES: FINAL NET PRICES TO BE DETERMINED LATER AND
SHOWN ON THE LM_CT109 FORMULATED PURCHASES REPORT

                    Head    Wtd Avg    Avg Wt    Wtd Avg      Price     Wtd Avg
                   Count   Dress Pct    Range     Weight      Range      Price
STEER - LIVE - FOB
 No trade reported.
STEER - DRESSED - DELIVERED
 Over 80% Choice       42     62.5     803-803      803.0  150.00-150.00  150.00
 65 - 80% Choice      604     62.7     716-826      770.8  149.00-154.00  150.34
 35 - 65% Choice      413     63.1     641-854      765.7  144.00-150.00  144.37
  0 - 35% Choice       42     62.0     806-806      806.0  145.00-145.00  145.00
 Total all grades   1,101     62.9     641-854      771.5  144.00-154.00  147.88
HEIFER - LIVE - FOB
 No trade reported.
HEIFER - DRESSED - DELIVERED
 Over 80% Choice       40     64.0     816-816      816.0  145.00-145.00  145.00
 65 - 80% Choice       39     63.0     725-725      725.0  148.00-148.00  148.00
 35 - 65% Choice      739     63.3     690-800      759.7  144.00-149.00  145.50
  0 - 35% Choice                          -                      -
 Total all grades     818     63.3     690-816      760.8  144.00-149.00  145.59
MIXED STEER/HEIFER - LIVE - FOB
 No trade reported.
MIXED STEER/HEIFER - DRESSED - DELIVERED
 Over 80% Choice       76     63.0     712-756      732.6  145.00-148.00  146.03
 65 - 80% Choice      243     63.8     781-810      797.3  144.00-145.00  144.74
 35 - 65% Choice      406     62.0     740-780      759.0  145.00-155.00  147.52
  0 - 35% Choice      226     61.8     650-806      732.2  145.00-149.00  146.78
 Total all grades     951     62.5     650-810      760.3  144.00-155.00  146.52
ALL BEEF TYPE STEERS AND HEIFERS - LIVE - FOB
 Total all grades                         -                      -
ALL BEEF TYPE STEERS AND HEIFERS - DRESSED - DELIVERED
 Total all grades   2,870     62.9     641-854      764.7  144.00-155.00  146.78
DAIRYBRED STEER/HEIFER - LIVE - FOB
 No trade reported.
DAIRYBRED STEER/HEIFER - DRESSED - DELIVERED
 Over 80% Choice       36     60.5     862-862      862.0  144.00-144.00  144.00
 65 - 80% Choice       70     61.2     767-842      812.3  141.00-145.00  143.67
 35 - 65% Choice      203     61.0     720-808      790.5  134.00-147.00  146.11
  0 - 35% Choice       57     62.0     806-806      806.0  143.95-143.95  143.95
 Total all grades     366     61.1     720-862      804.1  134.00-147.00  145.10
MIXED STEER/HEIFER/COW - LIVE - FOB
 No trade reported.
MIXED STEER/HEIFER/COW - DRESSED - DELIVERED
 Over 80% Choice                          -                      -
 65 - 80% Choice                          -                      -
 35 - 65% Choice       60     62.0     775-775      775.0  145.00-145.00  145.00
  0 - 35% Choice                          -                      -
 Total all grades      60     62.0     775-775      775.0  145.00-145.00  145.00

NATIONAL - All States

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

---

STAT News Service


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