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Nexus eNote

Beef
Week Ending	6/22/07	6/15/07	Year Ago	% of Prior Week	% of Prior Year
Slaughter	698,000	716,000	709,000	97.5%	98.4%
Beef (million lbs)	527.9	535.5	549.3	98.6%	96.1%
Choice Value	142.70	147.63	152.28	96.7%	93.7%
Select Value	136.55	140.84	129.61	97.0%	105.4%
Choice/Select Spread	6.15	6.79	22.67	90.6%	27.1%
Dressed Steer Weight	841	821	818	102.4%	102.8%
Dressed Heifer Weight	758	737	749	102.8%	101.2%

Live Cattle
Week Ending	6/22/07	6/15/07	Year Ago	% of Prior Week	% of Prior Year
Live Steer Weight	1,284	1,275	1,281	100.7%	100.2%
Live Heifer Weight	1,154	1,161	1,154	99.4%	100.0%
5 Area Cattle Price	86.62	89.69	82.10	96.6%	105.5%
Nearby Cattle Futures	87.80	90.55	82.62	97.0%	106.3%

Grain
Week Ending	6/22/07	6/15/07	Year Ago	% of Prior Week	% of Prior Year
Nearby Corn Futures	3.67	4.19	2.30	87.6%	159.6%
Nearby Soybean Futures	7.97	8.47	5.83	94.1%	136.7%

Nexus eNote

· June 1 Cattle on Feed: On Feed, 100.8%, Placements, 113.5%, Marketings, 96.5%.

· When beef is cooked at 375 degrees Fahrenheit, it’s is a major source of HCA’s (heterocyclic amines, carcinogenic compounds). Researchers at Kansas State have shown that by marinating round steaks with a marinade of thyme, pepper, allspice and salt they had 87% fewer HCA’s. The herbs are antioxidants and help to reduce or eliminate the HCA’s.

· The 2007 calf crop is expected to be the smallest since 1952.

· In order to limit the errors in shipments to Korea, the USDA will now only allow the 35 establishments that have export verification programs to ship beef. The third party shippers those establishments use also are approved.

· Some believe that this declining price trend is why the out-front beef buying hasn’t occurred yet. The beef buyers are anticipating still-lower prices.

· In 14 trading days since June 1 the Select cutout lost $9.94 while Choice cutout declined $13.65.

· The annual average price for cattle is forecasted to exceed $90/cwt. for the first time, according to Jim Robb of the Livestock Marketing Information Center. He also notes that the seasonal low in fed cattle follows the weekly slaughter peak by a few weeks. Robb feels we have already peaked with our weekly slaughter.

· Canada detected BSE in one of 80 cattle it imported from the UK back in 1993. Now the Canadian government is being sued in a multi billion dollar suit by 20,000 beef producers. Officials didn’t effectively track the 80 head it imported even though there was a 95% chance that six or more of these cattle had BSE.

Nexus eNote

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