GX_LS255
Springfield, IL    Fri May 16, 2008    USDA-Illinois Dept Ag Market News

Eastern Cornbelt Direct Feeder Pig Weekly Summary: Weekly ending May 16
Weekly summary includes pigs priced on negotiated, contract and formula basis

RECEIPTS THIS WEEK: 34,430     LAST WEEK: 39,847     LAST YEAR: 40,696

TRENDS COMPARED TO LAST WEEK:  Early weaned and feeder pigs sold 
steady to firm.  Demand was light to moderate for moderate offerings.
Receipts included 45% formulated prices.

   FOB Eastern Cornbelt - Illinois, Indiana, Ohio, Michigan
RECEIPTS THIS WEEK: 27,850     LAST WEEK: 32,947     LAST YEAR: 25,203

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250 head or less      360      29.00-34.49     $32.05
250-750              1355      12.00-15.00     $13.23
750 or more         19935      11.00-39.63     $29.81
Total Composite     21650      11.00-39.63     $28.81

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250 head or less      100      28.00-28.00     $28.00
750 or more          5430      32.00-34.00     $33.01
Total Composite      5530      28.00-34.00     $32.92

FEEDER PIGS 50 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750               670      30.00-30.00     $30.00
Total Composite       670      30.00-30.00     $30.00

SUMMARY OF TOTAL COMPOSITE for FOB weighted average prices showing variations
of values between formula priced pigs and cash market pigs included in quotes
above.
               Formula                         Cash
Basis   Head    Range     $/Head      Head     Range     $/Head
10 Lb  12895  29.00-39.63  $38.43     8755  11.00-19.00  $14.64
40 Lb                                 5530  28.00-34.00  $32.92
50 Lb                                  670  30.00-30.00  $30.00

+FOB prices are quoted on a per head basis "picked up" at the sellers farm in
Indiana, Illinois, Ohio, and Michigan; these prices do not include freight.


               Delivered Eastern Cornbelt Basis
RECEIPTS THIS WEEK: 6,580     LAST WEEK: 6,900     LAST YEAR: 15,493
Volume by state or province of origin:
Iowa 38.0%, Ontario 36.2%, Manitoba 17.5%, Missouri 8.4%.

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750              1050      22.50-30.50     $26.31
750 or more          4800      13.00-41.63     $25.62
Total Composite      5850      13.00-41.63     $25.74

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750               730      30.75-30.75     $30.75
Total Composite       730      30.75-30.75     $30.75

+Delivered Eastern Cornbelt prices include freight and fees on a farm to farm basis.
++Most lots of 40-60 weight pigs have a sliding value from the negotiated weight
basis which is calculated on the actual average weight of the lot plus or minus
.25-.40 cents per pound. Some early weaned lots have a slide of .50-1.00 per pound.
+Early weaned pigs are under 19 days old.
+Estimated lean value is projected to use base slaughter weights with normal
confinement feeding conditions.
+Vaccination and health program values are not included but health status
should be disclosed.

Source: USDA-Illinois Dept Ag Market News, Springfield, IL
        Cordell Givens, Market Reporter 217-782-4925
        www.ams.usda.gov/mnreports/gx_LS255.txt

1400c


.