U.S. National Lamb Market Update

ST. JOSEPH - May 11/04 - 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

*Today's trades not reportable because they did not meet the
3/70/20 guideline for live lambs.  Below is the last reported
market as of 05/10/2004.*

Receipts:                Negotiated          Formula
This Period                 1,915                  0
Week to Date                1,915                  0
Last Week Total             5,124             15,056
Last Year Total             3,444             15,243

Comments:
  Compared to Friday, cash sales were steady to weak.  Not enough formulated
sales since Friday to establish a market.  The latest available formula market
is printed below.

NEGOTIATED PURCHASES – As of May 10, 2004

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       1,915       125-160       147.0       50.0     90.00-106.79      96.10
Shorn

FORMULA PURCHASES -  As of May 7, 2004

Slaughter Lambs:  Carcass Basis - Choice and Prime

           Head       Weight      Wtd Avg     Wtd Avg       Price        Wtd Avg
          Count        Range       Weight      Dr pct       Range         Price
              3    under 55 lbs      49.6       50.0    174.00-174.00     174.00
            403       55-65 lbs      58.0       50.0    173.89-200.00     184.37
            406       65-75 lbs      69.3       50.0    182.00-186.00     185.41
            930       75-85 lbs      77.3       50.0    176.27-204.00     198.38
            434     over 85 lbs      87.2       50.0    170.00-175.33     174.36

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

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