KO_LS850  
Oklahoma City, OK    Fri  Jul 18, 2008    USDA-OK Dept of Ag Market News 

   National Slaughter Cattle Summary - Week Ending July 18, 2008   

   Compared to last week:  Slaughter cattle sold 2.00-3.00 lower live and 3.00-
4.00 lower dressed.  Trading began in Nebraska Monday afternoon and spread to 
the South Plains Tuesday.  Wednesday clean up trade was at the low end of the 
price range.  Demand was moderate at best as Packers struggled to bring costs 
down in light of a falling dressed beef trade.  By Friday morning Texas had 
moved 28,400, Kansas 37,500 and Nebraska 63,000.  Futures trading lost ground 
almost every day leaving feedlots few options but to sell out before conditions 
got worse.  In spite of negative trends over the last two weeks, wholesale beef 
prices remain relative high and the deferred futures indicate a great deal of 
confidence that cattle prices will remain high over time.  
   Boxed beef cut-out values Friday morning averaged 164.75 down 4.55 from last 
Friday.  The choice/Select spread is currently at 6.86.  Slaughter cattle on a 
national basis for negotiated cash trades through Friday morning totaled 
183,000 head.  Last week movement totaled 147,600.  

Midwest Direct Markets: 
Live Basis: Steers and Heifers 
   35-80 Percent Choice, 1200-1400 lbs  97.00-98.00.  
Dressed Basis:  Steers and Heifers 
   35-80 percent Choice, 800-950 lbs  154.00 to mostly 155.00.  

High Plains Direct Markets: 
Live Basis: Steers and Heifers
   35-65 percent Choice, 900-1400 lbs  97.00-98.00, few late in Kansas 96.00.  
   
Slaughter Cows and Bulls (Average Yielding Prices):
   Slaughter cows and bulls mostly steady to weak.  Packer demand moderate to 
good.  Cow beef values were mostly steady this week while supplies remain light 
to moderate.  
   USDA's Cutter cow carcass cut-out value Friday morning was 142.40 up .06 
from last Friday's close.  

Prices paid for average dressing:
           %Lean     Weight     Montana        Oklahoma      Alabama  
Breakers   75-80%  1000-1600    55.50-60.50    57.00-60.00    55.00-60.00
Boners     80-85%  1000-1600    53.00-59.00    55.50-60.00    55.00-60.00
Lean       85-90%   900-1400    50.00-54.00    54.00-57.50    48.00-53.00
Bulls      88-92%  1200-2300    68.50-74.50    69.00-73.00    67.00-73.00

Source: USDA-Oklahoma Dept of Ag Market News, Oklahoma City, OK
        Jerry Alexander     Telephone (405) 232-5425.
        www.ams.usda.gov/lsmarketnews
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