WA_LS700      
Washington DC         Fri     Sep 05, 2008            USDA Market News

MORNING LIVESTOCK SUMMARY
Estimated Daily Livestock Slaughter under Federal Inspection
                                CATTLE    CALVES      HOGS      SHEEP
Thursday 09/04/2008      (est)   128,000     4,000     433,000    10,000
Week ago (est)                   127,000     4,000     431,000    10,000
Year ago (act)                   128,000     3,000     416,000    11,000
Week to date (est)               387,000    13,000   1,291,000    30,000
Same Period Last Week (est)      509,000    16,000   1,726,000    36,000
Same Period Last Year (act)      390,000    11,000   1,254,000    31,000
Previous Day Estimated        Steer and Heifer    Cow and Bull
             Wednesday           103,000                25,000
**Revised Wednesday Hog Slaughter..428,000  New Week-to-Date..858,000**

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  
Sep   -----     ----        110.77    +225         -----     ----
Oct  103.30     +150        110.37    +100         69.02     +375
Nov   -----     ----        109.97    - 75         -----     ----
Dec  105.30     -175         -----    ----         68.40     -150
Jan   -----     ----        109.87    +225         -----     ----
Feb  106.05     +275        ------    ----         76.22     -575

Livestock Average Prices                                TRENDS          YEAR AGO
                                                            DAY    WEEK
Steers Choice 2-4 1100-1300 lbs (Texas)            98.97   UNCH    UNCH    94.64
Cows Breakers 1-3 (Sioux Falls)                    64.00   UNCH     0.50   55.25
Barrows & Gilts, 51-52% lean plant del. carcass    71.92    0.68    1.19   62.40
Feeder Steer Med 1 650-700 lbs (Okla. City)       114.59   UNCH    UNCH   123.23
Sltr Lambs Ch 2-4 Wooled 110-130 lbs (S. Falls)    96.48   UNCH     6.38  102.50

Carcass Equivalent Index Value
Steer and Heifer Beef
Choice 1-3  600-900 lbs                           148.23   UNCH    -0.68  140.04
Select 1-3  600-900 lbs                           140.70   UNCH    -0.96  133.50

Beef Cutout Value
Choice   600-900 lbs                              159.56   UNCH    -1.43  148.34
Select   600-900 lbs                              151.87   UNCH    -2.07  142.30
Cutter Cows                                       139.36   UNCH    -0.45  112.51

Cutout Based on 200 lb Pork Carcass
53-54% Lean,.65"-.80" Backfat Last Rib             77.20   -0.72   -3.31   67.72
US No. 2 Yellow Corn (Omaha)                        5.36    0.03   -0.18    3.01

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


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