WA_LS700      
Washington DC         Fri     May 16, 2008            USDA Market News

MORNING LIVESTOCK SUMMARY
Estimated Daily Livestock Slaughter under Federal Inspection

                                CATTLE    CALVES      HOGS      SHEEP
Thursday 05/15/2008      (est)   130,000     3,000     415,000    11,000
Week ago (est)                   128,000     3,000     415,000    10,000
Year ago (act)                   124,000     2,000     398,000     9,000
Week to date (est)               515,000    13,000   1,654,000    35,000
Same Period Last Week (est)      510,000    13,000   1,650,000    36,000
Same Period Last Year (act)      500,000    10,000   1,542,000    35,000
Previous Day Estimated        Steer and Heifer    Cow and Bull
             Wednesday           104,000                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  
May   -----     ----        108.60    +150         -----    -----
Jun   94.35     -275         -----    ----         77.08    -1100
Jul   -----     ----         -----    ----         77.05     -400
Aug   99.50     -725        113.28    +525         77.05     -900
Sep   -----     ----        114.55    +450         -----     ----
Oct  105.95     -325        115.45    +350         72.30    -1250

Livestock Average Prices                                TRENDS         YEAR AGO
                                                         DAY     WEEK
Steers Choice 2-4 1100-1300 lbs (Texas)         93.96    UNCH   1.35     97.09
Cows Breakers 1-3 (Sioux Falls)                 59.50    UNCH   -1.00    58.00
Barrows & Gilts, 51-52% lean plant del. carcass 81.82   -1.96   3.61     73.55
Feeder Steer Med 1 650-700 lbs (Okla. City)    112.40    UNCH   0.50    120.88
Sltr Lambs Ch 2-4 Wooled 110-130 lbs (S. Falls) 88.76    UNCH   0.01     94.31

Carcass Equivalent Index Value
Steer and Heifer Beef
Choice 1-3  600-900 lbs                        143.47   0.16    1.71    152.60
Select 1-3  600-900 lbs                        138.80    UNCH   0.64    139.31

Beef Cutout Value
Choice   600-900 lbs                           156.83   0.33    1.65    166.40
Select   600-900 lbs                           152.16   0.01    0.06    153.62
Cutter Cows                                    130.12   0.40    2.55    123.67

Cutout Based on 200 lb Pork Carcass
53-54% Lean,.65"-.80" Backfat Last Rib          82.25   1.40    3.54     77.74
US No. 2 Yellow Corn (Omaha)                    5.91    0.33     UNCH     3.53

Source:   USDA Market News, Washington, D.C.
          Livestock and Grain Market News (202) 720-8054
          www.ams.usda.gov/LSMarketNews


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