·October 1 Cattle on Feed: On Feed 96.3%, Placements 108.9%, Marketings 96.9%

·Beef Checkoff is teaming up with Old Chicago restaurants to promote beef.  85 Old Chicago restaurants are participating in the limited–time promotion, hoping to sell more beef by offering three special menu items.

·According to Cattle Buyers Weekly the top five packers processed 74.7% of the total commercial cattle in 2006.  The breakdown is: Tyson 24.9%, Cargill 20.8%, Swift 12.6%, National 10.4% and Smithfield Foods 6.0%.

·Forecasts are for beef exports to be at 1.35 billions pounds by the end of 2007, just 55% of pre-BSE levels.  This is 5.3% of our domestic production which compares to 9.6% in 2003.

·Chris Hunt, a Purdue University Extension marketing specialist recently stated that cattle prices will end up averaging about $92 this year; a new record high.  The previous annual high was in 2005 when prices averaged around $87.

·The beef industry’s Long Range Plan goal is to increase demand by another 10% by 2010.  In 2008, Beef Innovations Groups (funded by the Checkoff) will expand the line of value cuts (like the Flat Iron Steak which was released in 2005) in order to achieve some of this growth.

·  It’s old news, the fact that the cutout is lagging behind live cattle costs but just how far does the cutout need to travel in order to cover live cattle costs?  Experts say Choice beef needs to sell in the low $150’s/cwt, says Cattle Buyers Weekly.

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