Opening Livestock Cash Market Comments

ST. JOSEPH - May 11/04 - SNS -- The USDA's daily opening cash market comments for national slaughter cattle markets.

Morning National Slaughter Cattle Review for Monday, 5/10/04

Prices exclude discounts for cattle 30 months or older.  Some packers are
applying discounts of 0.00-41.00 per cwt to these type cattle.  A complete
list of Premiums and Discounts can be found on report LM_CT155, The National
Weekly Direct Slaughter Cattle - Premiums and Discounts or LM_CT169, The
5-Area Weekly Wtd Avg Direct Slaughter Cattle - Premiums and Discounts.

Negotiated sales:
Confirmed:     3,630    Week ago:            8,818     Year ago        :  17,634
Wk to Date:    3,630    Week ago to Date:    8,818     Year ago to Date:  17,634

Negotiated, Formula and contract purchases delivered to packers today:
Today:        99,200    Week Ago:          106,300    Year Ago:          105,900
Wk to Date:   99,200    Week Ago to Date:  106,300    Year Ago to Date:  105,900

Negotiated, Formula and contract commitments today: (generally for slaughter
within 7 days)
Today:        34,900    Week Ago:           38,900    Year Ago:           64,400
Wk to Date:   34,900    Week Ago to Date:   38,900    Year Ago to Date:   64,400

   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: 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            -       avg                   -       avg
65 - 80% Choice            -       avg                   -       avg
35 - 65% Choice       90.50-90.50  avg 90.50             -       avg
0 - 35% Choice             -       avg                   -       avg
Total all grades      90.50-90.50  avg 90.50             -       avg

Dressed basis              Steers                        Heifers
Over 80% Choice            -       avg                   -       avg
65 - 80% Choice      145.00-145.00 avg 145.00            -       avg
35 - 65% Choice            -       avg             144.00-144.00 avg 144.00
0 - 35% Choice             -       avg                   -       avg
Total all grades     145.00-145.00 avg 145.00      144.00-144.00 avg 144.00

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

Beef Type:                   Domestic:
Head count priced today:       13,900
Weighted avg weight:              755
Weighted avg net price:        139.94


Slaughter Cows and Bulls:  Dressed Prices
   Bull    600 up  104.56-122.00  avg 119.04
   Bull    600 dn  108.00-114.00  avg 110.56
   Cutter  500 up   94.00-114.00  avg 110.89
   Cutter  400-500  92.00-113.00  avg 109.07
   Cutter  400 dn   89.00-109.00  avg 103.06
   Boner   500 up   93.00-112.00  avg 103.27
   Boner   500 dn   89.00-108.00  avg  99.18
   Breaker 500 up   89.00-108.70  avg 100.91
   Premium White   100.00-113.00  avg 105.88

Covers transactions reported at 2:00 pm yesterday and 10:00 am 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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