U.S. Daily Average Feeder Cattle Prices

WASHINGTON - Feb 11/08 - SNS -- The USDA released its latest daily summary of livestock slaughter activity and prices at major markets in the United States.

MORNING LIVESTOCK SUMMARY
Estimated Daily Livestock Slaughter under Federal Inspection
                                CATTLE    CALVES      HOGS      SHEEP
Friday 02/08/2008        (est)   111,000     3,000     426,000     9,000
Week ago (est)                   110,000     3,000     414,000     9,000
Year ago (act)                   118,000     4,000     393,000     9,000
Week to date (est)               602,000    15,000   2,109,000    47,000
Same Period Last Week (est)      604,000    15,000   2,118,000    46,000
Same Period Last Year (act)      598,000    17,000   1,950,000    49,000

Saturday 02/09/2008      (est)    18,000         0     101,000         0
Week ago (est)                     9,000         0     152,000     2,000
Year ago (act)                    22,000         0       9,000         0
Week to date (est)               620,000    15,000   2,210,000    47,000
Same Period Last Week (est)      613,000    15,000   2,270,000    48,000
Same Period Last Year* (act)     621,000    16,000   1,958,000    49,000
2008 Year to Date              3,586,000    84,000  13,273,000   270,000
2007 *Year to Date             3,639,000    96,000  12,088,000   272,000
Percent change                     -1.4%    -12.3%        9.8%     -0.6%
2008 *Totals subject to revision
2007 *Totals adjusted to reflect NASS revisions
Yearly totals may not add due to rounding
Previous day estimated        Steer and Heifer    Cow and Bull
             Thursday            101,000                24,000

Chicago Mercantile Exchange Future Prices
     Choice Sltr Steers     Feeder Steers      Live Hog/Lean Value
      Set'l    Ch Fr        Set'l   Ch Fr          Set'l   Ch Fr
      Price    Pr Day       Price   Pr Day        Price    Pr Day
Feb   92.20     -475        -----    ----         58.07     -475
Mar   -----     ----       105.02    -825         -----     ----
Apr   95.10     -950       109.45    -775         64.87     +175
May   -----     ----       112.20    -550         74.20     +175
Jun   94.20     -800       ------    ----         78.55     +650
Jul   -----     ----       ------    ----         79.80     +900

Livestock Average Prices                                TRENDS          YEAR AGO
                                                            DAY    WEEK
Steers Choice 2-4 1100-1300 lbs (Texas)            90.96   UNCH    UNCH    86.96
Cows Breakers 1-3 (Sioux Falls)                    57.82    0.20    0.20   51.75
Barrows & Gilts, 51-52% lean plant del. carcass    55.52   -1.09   -1.09   65.50
Feeder Steer Med 1 650-700 lbs (Okla. City)       106.80   UNCH    UNCH   100.61
Sltr Lambs Ch 2-4 Wooled 110-130 lbs (S. Falls)    86.79   UNCH    UNCH    89.77

Carcass Equivalent Index Value
Steer and Heifer Beef
Choice 1-3  600-900 lbs                           137.73    0.04    0.04  138.55
Select 1-3  600-900 lbs                           131.51    0.81    0.81  127.65

Beef Cutout Value
Choice   600-900 lbs                              150.21   -0.15   -0.15  145.17
Select   600-900 lbs                              145.81    1.37    1.37  139.35
Cutter Cows                                       117.50   -0.92   -0.92  113.76

Cutout Based on 200 lb Pork Carcass
53-54% Lean,.65"-.80" Backfat Last Rib             61.16    0.36    0.36   70.53
US No. 2 Yellow Corn (Omaha)                        4.80    0.14    0.02    3.84

Source:   USDA Market News, Washington, D.C.

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