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Nexus eNote

Beef
Week Ending	8/10/07	8/3/07	Year Ago	% of Prior Week	% of Prior Year
Slaughter	674,000	671,000	679,000	100.4%	99.3%
Beef (million lbs)	525.2	522.3	530.8	100.6%	98.9%
Choice Value	144.53	143.75	146.70	100.5%	98.5%
Select Value	139.18	137.76	134.78	101.0%	103.3%
Choice/Select Spread	5.35	5.99	11.92	89.3%	44.9%
Dressed Steer Weight	857	849	861	100.9%	99.5%
Dressed Heifer Weight	769	769	760	100.0%	101.2%

Live Cattle
Week Ending	8/10/07	8/3/07	Year Ago	% of Prior Week	% of Prior Year
Live Steer Weight	1,318	1,324	1,315	100.5%	100.7%
Live Heifer Weight	1,183	1,184	1,187	100.1%	99.7%
5 Area Cattle Price	90.41	91.97	85.48	101.7%	107.6%
Nearby Cattle Futures	90.22	93.60	88.47	103.7%	105.8%

Grain
Week Ending	8/10/07	8/3/07	Year Ago	% of Prior Week	% of Prior Year
Nearby Corn Futures	3.33	3.26	2.39	97.9%	136.4%
Nearby Soybean Futures	8.50	8.39	5.57	98.7%	150.6%

Upcoming Events

Informational Meetings

Tuesday, August 21^st 7:00 PM

Country Junction Restaurant - Junction of Hwys 20 & 136, Dyersville, IA

Wednesday, August 22^nd 7:00 PM

Happy’s Place - 2323 Rockdale Road, Dubuque, IA

Thursday, August 23^rd 7:00 PM

Flapjack Family Restaurant - 101 McKinsey Drive, Maquoketa, IA

Saturday, September 8^th 2:00 PM – Game End

2^nd Annual Nexus Tailgate at Iowa State

Iowa State vs. University of Northern Iowa

The Story County Cattlemen’s Association will be grilling steak sandwiches, join Nexus staff and customers for plenty of food and fun!

RSVP by Friday August 31^st if you want to

attend the (free!) Tailgate Party.

Nexus eNote

v Canadian beef and pork producers say MCOOL violates NAFTA and WTO U.S. trade obligations. These agreements state that the U.S. considers meat from animals processed in the U.S. as U.S. meat. Producers in Canada are concerned that the audit, recordkeeping and labeling requirements for U.S. meatpacking plants to slaughter Canadian animals under MCOOL will deter those companies from paying a competitive price for their livestock.

v According to Hedgersedge.com, last week beef packers lost $5.95/head and pork packers $9.54/head. This means that together beef and pork packers lost about $23M.

v Researchers at the University of South Carolina have invented a food freshness sensor that may help in the battle against food poisoning by accurately detecting spoiled food. By changing color when the bacterial decay of food proteins occurs, diseases like E. coli and Salmonella may be more accurately detected and avoided.

v More people are eating out and the numbers prove it in a big way. Takeout ordering from casual dining chains nearly doubled compared with two years ago and takeout sales at casual dining chains have grown at an annual rate of almost 10% over the last three years. This is twice what is seen in overall industry growth.

v The feedlot percent fill level has dropped more than 10 percentage points since early January. This is double the average/seasonal decline over the past five years.

v If South Korea doesn’t begin inspection of beef in quarantine soon, approximately $35 million dollars worth of beef in cold storage or en route via ships, may have to be destroyed. Chilled beef cannot be frozen under Korean law. Korean importers have likely paid for most of this product already.

Nexus eNote

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