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Beef
Week Ending	11/9/07	11/2/07	Year Ago	% of Prior Week	% of Prior Year
Slaughter	637,000	671,000	648,000	94.9%	98.3%
Beef (million lbs)	503.8	531.3	505.3	94.8%	99.7%
Choice Value	139.78	140.03	144.90	99.8%	96.5%
Select Value	128.49	128.43	132.23	100.0%	97.2%
Choice/Select Spread	11.29	11.61	12.67	97.2%	89.1%
Dressed Steer Weight	882	893	873	98.8%	101.0%
Dressed Heifer Weight	793	791	782	100.3%	101.4%

Live Cattle
Week Ending	11/9/07	11/2/07	Year Ago	% of Prior Week	% of Prior Year
Live Steer Weight	1,353	1,351	1,332	100.1%	101.6%
Live Heifer Weight	1,238	1,216	1,191	101.8%	103.9%
5 Area Cattle Price	92.00	91.77	85.62	100.3%	107.5%
Nearby Cattle Futures	95.50	94.72	85.87	100.8%	111.2%

Grain
Week Ending	11/9/07	11/2/07	Year Ago	% of Prior Week	% of Prior Year
Nearby Corn Futures	3.86	3.77	3.50	102.4%	110.3%
Nearby Soybean Futures	10.43	10.01	6.57	104.2%	158.8%

Nexus eNote

§ There is hope that an E. coli vaccine could help reduce the chance that cattle shed E. coli 0157:H7. A study published recently by the University of Nebraska-Lincoln showed cattle given one dose showed 68% efficacy, two doses 66% and three doses 73%.

§ Feeder cattle imports from Canada have averaged 16,108 head since mid-September compared to last years figure of 5,364 during the same period. Cattle-Fax is estimating a 211,000 head increase this year compared to last, which amounts to 0.7% of the US fed cattle slaughter.

§ Cattle and animal protein discoveries may one day help medical professionals treat diseases like muscular dystrophy. Protein myostatin assists in the repair of muscle tissue and researchers in New Zealand believe that by regulating the human myostatin gene, which controls the growth, they can essentially teach the body to make more cells that produce muscle.

§ Cattle feeders are looking to have similar profitability in 2007 as they did in 2006, about -$30 per head even though wholesale value has been better than in the last nine years? The culprit of these losses is, according to Cattle-Fax, the prices being paid for feeder cattle.

§ What’s in store for 2008? The USDA recently adjusted its forecast to range between $87 and $94 in the upcoming year.

§ Feeder cattle prices have dropped about 9% from their mid-September highs and corn prices have been increasing.

§ The Cattle on Feed report due out this afternoon may show that the combination of feeder cattle price decline, corn costs, uncertainty of exports to Asia and negative consumer sentiment have feedlots nervous about increasing their numbers.

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