Prices - LSU AgCenter

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Prices - LSU AgCenter Powered By Docstoc
					This spreadsheet contains historical prices in Louisiana and can be used to examine seasonal price patterns and
value of gain for different weights of cattle. This spreadsheet makes NO assumptions about costs as it only
shows the additional revenues that would have been obtained by increasing the weight on cattle sold.

Last Updated: July 21, 2009                                                                   Prices obtained from USDA AMS


                Class of Cattle -- Prices
                   Boning Cull Cows                       View historical prices and
                                                          indices by clicking     here
            Class of Cattle -- Value of Gain
         2.5 to 5.5 cwt steers (over 6 months)            View historical value of gain and
                                                          indices by clicking    here


                User-specified value of gain                                    Scenario
                                                          1          2          3          4          5          6
   Starting month (Jan=1, Feb=2, etc)                     10         7          5          4          3          5
   Class (weight/sex) of Cattle - Starting                250 lb str 300 lb str 200 lb hfr 250 lb str 200 lb str 200 lb str

   Ending month (Oct=10, Nov=11, etc)                     3          10         11         6          8          7
   Class (weight/sex) of Cattle - Ending                  550 lb str 450 lb str 400 lb hfr 550 lb str 550 lb str 350 lb str

   Weight gain                                            300         150        200          300        350        150
   Months / Average daily gain (ADG)*                     6 / 1.64    4 / 1.23   7 / 0.94     3 / 3.29   6 / 1.92   3 / 1.64

   View the results of user defined value of gain scenarios by clicking                       here
* Months between starting and ending periods and calculated average daily gain (ADG) assuming 30.4 days per month.

Address comments/questions to
J. Ross Pruitt, Ph.D.
Extension Agricultural Economist
Department of Agricultural Economics and Agribusiness, Louisiana State University Agricultural Center
voice: (225) 578-2719 --- email: rpruitt@agcenter.lsu.edu
Price Codes             Value of Gain Codes
LA 200-250 Steers   0   2 to 4 cwt steers (over 4 months)       0
LA 250-300 steers   0   2.5 to 4.5 cwt steers (over 4 months)   0
LA 300-350 steers   0   3 to 5 cwt steers (over 4 months)       0
LA 350-400 steers   0   3.5 to 5.5 cwt steers (over 4 months)   0
LA 400-450 steers   0   4 to 6 cwt steers (over 4 months)       0
  LA 450-500 steers             0           4.5 to 6.5 cwt steers (over 4 months)    0
  LA 500-550 steers             0           2 to 5 cwt steers (over 6 months)        0
  LA 550-600 steers             0           2.5 to 5.5 cwt steers (over 6 months)    1
  LA 600-650 steers             0           3 to 6 cwt steers (over 6 months)        0
  LA 650-700 steers             0           3.5 to 6.5 cwt steers (over 6 months)    0
  LA 200-250 heifers            0           2 to 6 cwt steers (over 8 months)        0
  LA 250-300 heifers            0           2.5 to 6.5 cwt steers (over 8 months)    0
  LA 300-350 heifers            0           2 to 4 cwt heifers (over 4 months)       0
  LA 350-400 heifers            0           2.5 to 4.5 cwt heifers (over 4 months)   0
  LA 400-450 heifers            0           3 to 5 cwt heifers (over 4 months)       0
  LA 450-500 heifers            0           3.5 to 5.5 cwt heifers (over 4 months)   0
  LA 500-550 heifers            0           4 to 6 cwt heifers (over 4 months)       0
  LA 550-600 heifers            0           4.5 to 6.5 cwt heifers (over 4 months)   0
  LA 600-650 heifers            0           2 to 5 cwt heifers (over 6 months)       0
  LA 650-700 heifers            0           2.5 to 5.5 cwt heifers (over 6 months)   0
  Boning Cull Cows              1           3 to 6 cwt heifers (over 6 months)       0
  Lean Cull Cows                0           3.5 to 6.5 cwt heifers (over 6 months)   0
                                            2 to 6 cwt heifers (over 8 months)       0
Month Codes                                 2.5 to 6.5 cwt heifers (over 8 months)   0
 1 Jan
 2 Feb
 3 Mar
 4 Apr
 5 May
 6 Jun
 7 Jul
 8 Aug
 9 Sep
10 Oct
11 Nov
12 Dec

  Starting Weight Codes
  200 lb str              200   2   0   0            0           0          1        1
  250 lb str              250   3   1   0            0           1          0        0
300 lb str                  300        4             0          1          0          0          0             0
350 lb str                  350        5             0          0          0          0          0             0
400 lb str                  400        6             0          0          0          0          0             0
450 lb str                  450        7             0          0          0          0          0             0
500 lb str                  500        8             0          0          0          0          0             0
550 lb str                  550        9             0          0          0          0          0             0
600 lb str                  600       10             0          0          0          0          0             0
200 lb hfr                  200       12             0          0          1          0          0             0
250 lb hfr                  250       13             0          0          0          0          0             0
300 lb hfr                  300       14             0          0          0          0          0             0
350 lb hfr                  350       15             0          0          0          0          0             0
400 lb hfr                  400       16             0          0          0          0          0             0
450 lb hfr                  450       17             0          0          0          0          0             0
500 lb hfr                  500       18             0          0          0          0          0             0
550 lb hfr                  550       19             0          0          0          0          0             0
600 lb hfr                  600       20             0          0          0          0          0             0
                                           250 lb str 300 lb str 200 lb hfr 250 lb str 200 lb str 200 lb str
                      Codes used =>                  3          4         12          3          2             2
                                           Steers      Steers     Heifers    Steers     Steers     Steers

Ending Weight Codes
250 lb str                  250        3           0           0          0          0          0              0
300 lb str                  300        4           0           0          0          0          0              0
350 lb str                  350        5           0           0          0          0          0              1
400 lb str                  400        6           0           0          0          0          0              0
450 lb str                  450        7           0           1          0          0          0              0
500 lb str                  500        8           0           0          0          0          0              0
550 lb str                  550        9           1           0          0          1          1              0
600 lb str                  600       10           0           0          0          0          0              0
650 lb str                  650       11           0           0          0          0          0              0
250 lb hfr                  250       13           0           0          0          0          0              0
300 lb hfr                  300       14           0           0          0          0          0              0
350 lb hfr                  350       15           0           0          0          0          0              0
400 lb hfr                  400       16           0           0          1          0          0              0
450 lb hfr                  450       17           0           0          0          0          0              0
500 lb hfr         500       18             0          0          0          0          0             0
550 lb hfr         550       19             0          0          0          0          0             0
600 lb hfr         600       20             0          0          0          0          0             0
650 lb hfr         650       21             0          0          0          0          0             0
                                  550 lb str 450 lb str 400 lb hfr 550 lb str 550 lb str 350 lb str
             Codes used =>                  9          7        16           9          9             5

Sex                               Steers    Steers      Heifers    Steers     Steers     Steers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   "Prices" column
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Count ========>                     103        103        103        103        103         103        103        103         16         16        102        103        103        103        103        103        103        103         16         16        103        103
               Historical Monthly Prices for Boning Cull Cows                                                                                                                                                                Historical Monthly Prices for Boning Cull Cows                                                                              Historical Monthly Prices for Boning Cull Cows                                                                            Minimum =======>                113.725    108.455    101.375     94.525         86       80.92      77.89      74.35      78.14       77.5       98.5      90.25     85.215     82.275     77.945      74.64      71.62     69.135     72.855     71.375     33.445     29.955
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Maximum =======>                189.465      182.33     166.455   156.295     140.66     134.75     125.25     120.04    101.545    100.315      172.5     149.68   142.885    135.655    136.465      122.89   115.635    112.285        94.22    93.895     57.885       51.92
                                 2001       2002      2003       2004    2005                                2006        2007         2008        2009    8-yr avg   5-yr avg          +Std    -Std     Min    Max               2001        2002        2003       2004      2005    2006    2007    2008    2009    8-yr avg Std Dev LR                    2001        2002       2003        2004      2005    2006    2007    2008          2009     5-yr avg    Std SR        Average ========>                 147.18     137.06      127.85    120.27     112.77     106.86     101.35      97.47      91.54      89.92     125.93     117.87     111.82     106.50     102.00       97.70      93.91      91.11      84.76      83.01      46.90      41.84
               Jan              41.15      40.77     37.82      47.46   52.70                               47.27       48.61        49.32       45.83      45.64      49.07          50.75   40.52   37.82   52.70   Jan        41.15       40.77       37.82      47.46     52.70   47.27   48.61   49.32       .     45.64        5.12         Jan            .           .          .       47.46     52.70   47.27   48.61   49.32             .      49.07        2.20                                              0          0           0         0          0          0          0          0          0          0          0          0          0          0          0           0          0          0          0          0          1          0
               Feb              46.07      43.80     39.90      47.79   54.75                               53.53       50.45        54.83       46.01      48.89      52.27          54.36   43.42   39.90   54.83   Feb        46.07       43.80       39.90      47.79     54.75   53.53   50.45   54.83       .     48.89        5.47         Feb            .           .          .       47.79     54.75   53.53   50.45   54.83             .      52.27        3.07       Pick Series to Use                        Steers      steers    steers     steers     steers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  LA 200-250 LA 250-300 LA 300-350 LA 350-400 LA 400-450 LA 450-500 LA 500-550 LA 550-600 LA 600-650 LA 650-700 LA 200-250 LA 250-300 LA 300-350 LA 350-400 LA 400-450 LA 450-500 LA 500-550 LA 550-600 LA 600-650 LA 650-700 Boning Cull Lean Cull Cows
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    steers     steers     steers     steers     steers     heifers    heifers    heifers    heifers    heifers    heifers    heifers    heifers    heifers    heifers     Cows
               Mar              45.12      44.57     40.31      47.09   56.07                               51.28       47.75        53.42       45.24      48.20      51.12          53.34   43.06   40.31   56.07   Mar        45.12       44.57       40.31      47.09     56.07   51.28   47.75   53.42       .     48.20        5.14         Mar            .           .          .       47.09     56.07   51.28   47.75   53.42             .      51.12        3.79                                                 Boning Cull Cows
               Apr              44.91      42.98     40.11      49.79   56.83                               49.73       50.14        53.13       49.13      48.45      51.92          53.93   42.97   40.11   56.83   Apr        44.91       42.98       40.11      49.79     56.83   49.73   50.14   53.13       .     48.45        5.48         Apr            .           .          .       49.79     56.83   49.73   50.14   53.13             .      51.92        3.08       Source: USDA AMS
               May              43.74      41.53     40.64      51.72   57.89                               47.37       51.84        55.51       49.46      48.78      52.86          55.24   42.31   40.64   57.89   May        43.74       41.53       40.64      51.72     57.89   47.37   51.84   55.51       .     48.78        6.46         May            .           .          .       51.72     57.89   47.37   51.84   55.51             .      52.86        4.03
               Jun              46.36      40.21     41.80      53.74   57.53                               46.09       49.72        55.21       44.69      48.83      52.46          55.14   42.52   40.21   57.53   Jun        46.36       40.21       41.80      53.74     57.53   46.09   49.72   55.21       .     48.83        6.31         Jun            .           .          .       53.74     57.53   46.09   49.72   55.21             .      52.46        4.55                                                                          42200      26770
               Jul              44.04      38.06     44.00      56.47   53.98                               44.93       52.20        56.43       45.00      48.76      52.80          55.64   41.88   38.06   56.47    Jul       44.04       38.06       44.00      56.47     53.98   44.93   52.20   56.43       .     48.76        6.88          Jul           .           .          .       56.47     53.98   44.93   52.20   56.43             .      52.80        4.75                                                                            422      267.7       154.3     0.7715      77.15
               Aug              44.91      37.39     43.09      54.65   53.44                               45.90       52.34        57.17          ---     48.61      52.70          55.41   41.80   37.39   57.17   Aug        44.91       37.39       43.09      54.65     53.44   45.90   52.34   57.17       .     48.61        6.81         Aug            .           .          .       54.65     53.44   45.90   52.34   57.17             .      52.70        4.21
               Sep              42.76      35.53     42.74      53.31   48.39                               44.61       48.11        52.90          ---     46.04      49.46          51.94   40.14   35.53   53.31   Sep        42.76       35.53       42.74      53.31     48.39   44.61   48.11   52.90       .     46.04        5.90         Sep            .           .          .       53.31     48.39   44.61   48.11   52.90             .      49.46        3.64                                    Steers                                                                                                           Heifers                                                                                                       Cows
               Oct              38.51      34.30     43.53      50.43   43.99                               44.22       45.70        48.80          ---     43.68      46.62          48.90   38.46   34.30   50.43   Oct        38.51       34.30       43.53      50.43     43.99   44.22   45.70   48.80       .     43.68        5.22         Oct            .           .          .       50.43     43.99   44.22   45.70   48.80             .      46.62        2.86       Year        Month    Yr-Mo   200-250   250-300   300-350   350-400   400-450   450-500   500-550   550-600   600-650               650-700    200-250   250-300   300-350   350-400   400-450   450-500   500-550   550-600   600-650            650-700    Boning     Lean       Boning Cull Cows
               Nov              38.64      33.45     46.66      51.50   44.58                               43.29       45.01        42.08          ---     43.15      45.29          48.53   37.76   33.45   51.50   Nov        38.64       33.45       46.66      51.50     44.58   43.29   45.01   42.08       .     43.15        5.39         Nov            .           .          .       51.50     44.58   43.29   45.01   42.08             .      45.29        3.66   1          2001 Jan      2001.01    141.57    132.80    123.50    115.98    108.05    101.85     95.30     91.86                                     124.39    115.39    105.93    102.84     96.11     92.08     85.95     82.50                                 41.145     36.535       41.15
               Dec              38.55      34.90     48.48      51.22   45.71                               44.46       46.71        43.55          ---     44.19      46.33          49.47   38.92   34.90   51.22   Dec        38.55       34.90       48.48      51.22     45.71   44.46   46.71   43.55       .     44.19        5.28         Dec            .           .          .       51.22     45.71   44.46   46.71   43.55             .      46.33        2.99   1          2001 Feb      2001.02    142.57    134.60    125.50    117.71    109.70    103.89     98.65     96.45                                     124.04    118.11    109.50    103.97     97.71     94.71     88.25     87.15                                 46.065      40.71       46.07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2001 Mar      2001.03    147.27    137.00    128.29    121.25    112.95    105.98     99.88     97.07                                     123.47    119.00    111.53    106.10     99.63     94.95     88.81     87.33                                 45.115      39.99       45.12
               Avg              42.89      38.96     42.42      51.26   52.15                               46.89       49.05        51.86       46.48      46.93      50.24                                          Avg        42.89       38.96       42.42      51.26     52.15   46.89   49.05   51.86    0.00     46.93                     Avg     #DIV/0!     #DIV/0!     #DIV/0!       51.26     52.15   46.89   49.05   51.86       #DIV/0!      50.24               1          2001 Apr      2001.04    145.89    137.14    124.60    117.14    108.79    102.20     97.06     94.50                                     126.65    119.69    109.68    104.34     97.12     94.83     88.47     87.81                                 44.905     39.845       44.91
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2001 May      2001.05     140.79     132.87     121.40     112.93      105.86      99.98      94.71      91.04                           122.39     115.12     107.21     101.00      94.80      92.00      86.52      85.40                            43.74      39.13         43.74
               Historical Seasonal Index for Boning Cull Cows                                                                                                                                                                                                                                                                                                                                                                                                                  1          2001 Jun      2001.06     140.49     131.38     120.00     112.29      105.83     100.44      94.03      92.47                           118.28     112.72     106.61     101.33      95.77      93.00      87.74      87.25                           46.355      41.08         46.36
                                                                                                                                                                                                                             Historical Seasonal Index for Boning Cull Cows                                                                              Historical Seasonal Index for Boning Cull Cows                                                                        1          2001   Jul    2001.07     134.75     128.52     117.39     109.87      102.67      97.00      93.00      90.92                           114.64     109.72     103.80      98.33      93.79      90.11      84.99      84.47                           44.035      39.97         44.04
                                 2001       2002      2003       2004   2005                                 2006        2007         2008        2009    8-yr avg   5-yr avg         +Std     -Std     Min    Max               2001        2002         2003       2004     2005    2006    2007    2008    2009    8-yr avg Std Dev LR                     2001       2002          2003       2004     2005    2006    2007    2008         2009    5-yr avg   Std SR      1          2001   Aug    2001.08     132.37     125.92     116.65     108.24      102.37      96.53      91.50      87.62                           116.00     106.62     101.37      96.86      91.57      88.53      84.45      83.15                            44.91     40.605         44.91
               Jan               0.96       1.05      0.89       0.93   1.01                                 1.01        0.99         0.95        0.99       0.97       0.98          1.02     0.92    0.89    1.05   Jan          0.96       1.05         0.89        0.93    1.01    1.01    0.99    0.95       .      0.97       0.051   Jan          .           .           .               0.926    1.011   1.008   0.991   0.951   .                  0.977     0.037   1          2001   Sep    2001.09     143.63     132.70     123.11     114.21      105.33      98.19      91.98      88.64                           119.96     115.75     106.48      99.79      93.44      88.65      83.50      80.15                            42.76      38.95         42.76
               Feb               1.07       1.12      0.94       0.93   1.05                                 1.14        1.03         1.06        0.99       1.04       1.04          1.12     0.97    0.93    1.14   Feb          1.07       1.12         0.94        0.93    1.05    1.14    1.03    1.06       .      1.04       0.076   Feb          .           .           .               0.932    1.050   1.142   1.029   1.057   .                  1.042     0.075   1          2001   Oct    2001.10     129.88     123.37     113.48     105.82       98.71      92.62      86.36      81.88                           111.90     105.00      97.42      93.55      87.14      81.95      76.64      73.04                            38.51     34.895         38.51
               Mar               1.05       1.14      0.95       0.92   1.08                                 1.09        0.97         1.03        0.97       1.03       1.02          1.11     0.95    0.92    1.14   Mar          1.05       1.14         0.95        0.92    1.08    1.09    0.97    1.03       .      1.03       0.077   Mar          .           .           .               0.919    1.075   1.094   0.973   1.030   .                  1.018     0.072   1          2001   Nov    2001.11     125.50     118.70     109.92     102.17       96.04      90.43      85.04      81.02                           107.50      99.79      94.93      89.79      84.55      80.78      75.77      72.58                           38.635     35.035         38.64
               Apr               1.05       1.10      0.95       0.97   1.09                                 1.06        1.02         1.02        1.06       1.03       1.03          1.09     0.98    0.95    1.10   Apr          1.05       1.10         0.95        0.97    1.09    1.06    1.02    1.02       .      1.03       0.054   Apr          .           .           .               0.971    1.090   1.061   1.022   1.025   .                  1.034     0.045   1          2001   Dec    2001.12     133.85     128.06     117.77     111.37      102.81      96.40      90.61      87.50                           112.93     109.85     102.43      97.69      91.08      87.33      82.30      81.09                            38.55     34.545         38.55
               May               1.02       1.07      0.96       1.01   1.11                                 1.01        1.06         1.07        1.06       1.04       1.05          1.08     0.99    0.96    1.11   May          1.02       1.07         0.96        1.01    1.11    1.01    1.06    1.07       .      1.04       0.047   May          .           .           .               1.009    1.110   1.010   1.057   1.070   .                  1.051     0.043   1          2002   Jan    2002.01     137.25     130.33     119.69     113.17      105.06      98.44      90.99      87.27                           117.80     112.92     102.70      97.50      91.81      88.20      83.68      80.03                            40.77      36.42         40.77
               Jun               1.08       1.03      0.99       1.05   1.10                                 0.98        1.01         1.06        0.96       1.04       1.04          1.08     1.00    0.98    1.10   Jun          1.08       1.03         0.99        1.05    1.10    0.98    1.01    1.06       .      1.04       0.044   Jun          .           .           .               1.048    1.103   0.983   1.014   1.065   .                  1.043     0.046   1          2002   Feb    2002.02     134.10     127.11     116.52     112.00      105.50      99.52      93.89      89.25                           115.34     112.38     105.54      99.96      93.94      89.89      85.71      81.93                           43.795      39.24         43.80
               Jul               1.03       0.98      1.04       1.10   1.04                                 0.96        1.06         1.09        0.97       1.04       1.05          1.09     0.99    0.96    1.10    Jul         1.03       0.98         1.04        1.10    1.04    0.96    1.06    1.09       .      1.04       0.050   Jul          .           .           .               1.102    1.035   0.958   1.064   1.088   .                  1.049     0.057   1          2002   Mar    2002.03     136.28     127.25     117.59     110.59      104.42      97.88      91.05      87.63                           113.32     113.10     105.30      98.28      90.25      86.24      82.75      78.92                            44.57      40.32         44.57
               Aug               1.05       0.96      1.02       1.07   1.02                                 0.98        1.07         1.10          ---      1.03       1.05          1.08     0.98    0.96    1.10   Aug          1.05       0.96         1.02        1.07    1.02    0.98    1.07    1.10       .      1.03       0.048   Aug          .           .           .               1.066    1.025   0.979   1.067   1.102   .                  1.048     0.047   1          2002   Apr    2002.04     130.29     120.27     109.87     103.53       96.82      90.71      85.24      80.30                           109.64     101.95     100.43      93.00      87.07      83.33      79.64      75.80                           42.975      39.43         42.98
               Sep               1.00       0.91      1.01       1.04   0.93                                 0.95        0.98         1.02          ---      0.98       0.98          1.02     0.93    0.91    1.04   Sep          1.00       0.91         1.01        1.04    0.93    0.95    0.98    1.02       .      0.98       0.045   Sep          .           .           .               1.040    0.928   0.951   0.981   1.020   .                  0.984     0.046   1          2002   May    2002.05     121.64     111.79     102.98      97.43       92.56      87.43      82.63      78.13                           106.25      99.39      93.00      88.03      84.75      80.54      77.54      74.14                           41.525     38.375         41.53
               Oct               0.90       0.88      1.03       0.98   0.84                                 0.94        0.93         0.94          ---      0.93       0.93          0.99     0.87    0.84    1.03   Oct          0.90       0.88         1.03        0.98    0.84    0.94    0.93    0.94       .      0.93       0.058   Oct          .           .           .               0.984    0.843   0.943   0.932   0.941   .                  0.929     0.052   1          2002   Jun    2002.06     118.42     111.54     102.61      96.81       87.50      83.34      79.90      76.73                           108.36      99.17      91.20      85.88      81.01      77.17      74.77      70.87                            40.21      37.04         40.21
               Nov               0.90       0.86      1.10       1.00   0.85                                 0.92        0.92         0.81          ---      0.92       0.90          1.01     0.83    0.81    1.10   Nov          0.90       0.86         1.10        1.00    0.85    0.92    0.92    0.81       .      0.92       0.092   Nov          .           .           .               1.005    0.855   0.923   0.918   0.811   .                  0.902     0.074   1          2002   Jul    2002.07     118.41     111.17     103.69      96.68       90.73      84.30      79.93      75.25                           104.17      98.10      92.93      87.83      82.53      78.62      74.15      71.68                           38.055      34.71         38.06
               Dec               0.90       0.90      1.14       1.00   0.88                                 0.95        0.95         0.84          ---      0.94       0.92          1.04     0.85    0.84    1.14   Dec          0.90       0.90         1.14        1.00    0.88    0.95    0.95    0.84       .      0.94       0.094   Dec          .           .           .               0.999    0.876   0.948   0.952   0.840   .                  0.923     0.064   1          2002   Aug    2002.08     118.64     112.88     104.65      98.01       88.86      83.13      78.35      75.00                           103.70      98.57      88.66      82.82      78.27      74.96      72.53      71.41                            37.39      33.86         37.39
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2002   Sep    2002.09     113.73     108.46     101.38      94.53       86.00      80.92      77.89      74.35                           100.25      94.30      88.39      82.99      77.95      74.64      71.62      69.77                           35.525     32.045         35.53
               Avg               1.00       1.00       1.00      1.00    1.00                                1.00        1.00         1.00        1.00       1.00       1.00                                          Avg         1.00        1.00        1.00        1.00     1.00    1.00    1.00    1.00    0.00      1.00               Avg           #DIV/0!     #DIV/0!     #DIV/0!         1.00     1.00    1.00    1.00    1.00       #DIV/0!      1.000               1          2002   Oct    2002.10     116.73     111.72     105.24      98.41       91.77      85.16      79.08      75.53                           102.63      94.64      88.74      85.29      80.30      76.10      71.68      69.19                             34.3      30.87         34.30
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2002 Nov      2002.11     119.19     114.08     107.60     101.53       94.35      88.25      80.11      75.79                           105.44      98.50      90.57      86.13      81.25      76.57      72.90      69.14                           33.445     29.955         33.45
               Years to include in averages (enter a "1" to include or a "0" to exclude)                                                                                                                                                                                                                                                                                                                                                                                       1          2002 Dec      2002.12     120.88     115.73     107.89     102.40       94.89      88.82      82.47      78.50                           103.80      97.92      90.00      86.34      81.35      78.11      74.55      71.93                             34.9      30.83         34.90
               Title             2001       2002      2003       2004   2005                                 2006        2007         2008        2009       Years included                                                                                                                                                                                                                                                                                                    1          2003 Jan      2003.01     122.82     117.00     108.77     104.74       99.06      92.84      85.10      81.08                           108.10     101.75      93.65      89.11      85.38      82.64      77.90      75.74                           37.815      33.75         37.82
               8-yr avg             1          1         1          1      1                                    1           1            1          na                  8                                                                                                                                                                                                                                                                                                      1          2003 Feb      2003.02     126.53     116.75     109.06     102.97       98.11      91.60      85.54      81.88                           105.57     100.51      94.37      90.68      85.40      83.18      79.54      75.73                           39.895     35.465         39.90
               5-yr avg             0          0         0          1      1                                    1           1            1          na                  5                                                                                                                                                                                                                                                                                                      1          2003 Mar      2003.03     120.62     112.42     105.77     101.17       95.16      92.12      85.50      81.20                           111.33      99.20      91.87      88.77      84.65      82.12      77.22      74.48                            40.31     35.595         40.31

                     Historical Monthly Prices for Boning Cull Cows                                                 Historical Seasonal Index for Boning Cull Cows                                                                                                                                                                                                                                                                                                             1          2003   Apr    2003.04     121.67     113.50     107.00     102.73       97.53      92.59      87.04      82.52                           106.00     100.50      95.06      90.60      85.53      82.68      78.62      75.84                           40.105     35.035         40.11
               8-yr avg                                                                                                                                                                                                                                                                                                                                                                                                                                                        1          2003   May    2003.05     122.25     113.53     104.93      99.76       94.41      89.31      85.16      82.46                           105.78     100.23      94.84      90.24      86.95      83.29      79.05      76.33                            40.64      35.57         40.64
               70.00                                                                                        1.10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2003   Jun    2003.06     126.01     116.46     111.13     104.95       97.63      93.40      87.67      84.53                           105.62     100.04      95.95      91.97      87.85      84.44      81.48      78.36                           41.795     36.775         41.80
                                                                                Percent of Annual Average




               60.00
                                                                                                            1.05                                                                                                                                                                                                                                                                                                                                                               1          2003   Jul    2003.07     129.12     120.50     113.26     106.62      101.18      94.53      90.72      85.74                           113.55     106.54      99.97      95.32      91.08      86.89      84.44      81.49                               44      38.52         44.00
               50.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 43.085      37.93
Price, $/cwt




                                                                                                            1.00                                                                                                                                                                                                                                                                                                                                                               1          2003   Aug    2003.08     128.61     121.45     113.84     106.65       99.36      94.08      90.43      86.04                           109.36     104.81      99.68      95.03      90.88      86.80      84.45      81.58                                                     43.09
               40.00                                                                                                                                                                                                                                                                                                                                                                                                                                                           1          2003   Sep    2003.09     129.48     124.19     117.72     111.93      104.64      99.02      93.28      89.44                           112.75     108.87     103.69      98.68      94.03      90.27      86.50      83.72                            42.74     36.975         42.74
               30.00                                                                                        0.95                                                           8-yr avg                                                                                                                                                                                                                                                                                            1          2003   Oct    2003.10     136.35     128.06     121.88     115.75      108.30     102.14      96.53      91.80                           118.07     111.43     105.71     101.00      97.23      92.41      88.10      84.76                            43.53     37.285         43.53
               20.00                                                                                        0.90                                                           5-yr avg                                                                                                                                                                                                                                                                                            1          2003   Nov    2003.11     135.75     127.12     124.10     118.38      110.26     104.10      96.23      91.46                           117.80     113.27     109.19     104.44     101.07      96.03      90.04      86.38                           46.655     40.535         46.66
               10.00                                                                                        0.85
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2003   Dec    2003.12     137.00     129.75     125.52     118.13      114.42     107.22     101.75      97.60                           119.54     117.36     112.20     105.92     100.85      96.96      93.00      89.56                           48.475     41.875         48.48
                0.00                                                                                                                                                                                                                                                                                                                                                                                                                                                           1          2004   Jan    2004.01     134.25     124.82     121.28     114.97      109.65     104.37      97.99      94.77                           121.00     115.28     110.91     106.60     100.91      96.78      91.58      88.91                           47.455      41.15         47.46
                                                                                                            0.80                                                                                                                                                                                                                                                                                                                                                               1          2004   Feb    2004.02     141.46     129.57     123.04     117.20      110.54     104.22     100.45      96.76                           117.25     119.88     112.95     107.92     102.42      97.97      92.25      89.16                            47.79     42.165         47.79
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Mar    2004.03     138.64     130.47     128.34     123.03      116.43     110.03     104.27     100.47                           125.09     119.25     115.71     110.63     105.35     100.11      96.34      92.78                           47.085      42.75         47.09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Apr    2004.04     145.02     136.21     129.48     122.82      116.58     112.09     105.47     101.56                           128.73     121.14     116.30     111.38     107.31     103.17      98.88      94.77                            49.79     44.885         49.79
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   May    2004.05     150.22     140.87     133.52     126.91      120.08     113.59     108.50     104.90                           134.70     128.59     121.12     115.53     111.48     107.48     103.68     100.54                           51.715      46.07         51.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Jun    2004.06     153.68     144.58     136.89     129.98      123.32     117.19     112.83     108.40                           137.71     130.92     124.13     119.22     114.91     110.17     107.77     105.00                            53.74     47.595         53.74
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Jul    2004.07     168.57     158.00     145.66     136.77      127.36     121.62     115.93     112.53                           148.07     140.13     132.78     126.42     119.89     115.28     110.14     107.58                           56.465     50.845         56.47
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Aug    2004.08     174.61     161.93     151.34     139.77      128.64     122.23     116.26     113.22                           151.46     142.07     133.23     125.88     119.43     115.71     110.22     107.28                           54.645      49.43         54.65
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Sep    2004.09     167.56     156.41     146.23     137.67      125.54     119.43     111.55     107.58                           146.34     138.39     130.24     124.23     116.24     110.93     106.48     102.40                            53.31     48.175         53.31
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Oct    2004.10     157.08     149.24     140.73     132.64      123.57     117.38     110.85     106.77                           139.66     131.58     125.74     119.36     112.72     106.48     103.42      99.55                            50.43     45.135         50.43
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Nov    2004.11     158.73     150.56     143.00     133.77      124.12     117.77     110.65     105.41                           141.25     132.65     126.27     120.51     114.18     110.27     104.45      99.07                           51.495      46.69         51.50
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2004   Dec    2004.12     155.22     145.78     141.16     131.85      124.59     118.64     109.62     105.91                           134.75     127.88     123.73     118.75     112.96     109.71     103.45     102.08                            51.22      45.25         51.22
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2005   Jan    2005.01     157.32     149.10     142.17     134.67      127.29     120.95     113.65     109.70                           136.66     129.22     125.85     119.95     116.10     110.34     106.52     101.64                             52.7     47.915         52.70
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2005   Feb    2005.02     165.18     154.56     148.03     138.78      131.86     126.03     120.54     113.95                           140.60     133.26     130.78     125.41     122.50     117.75     113.32     108.06                           54.745      49.06         54.75
                                                            (based on calving year of Oct-Sept)
               Historical Seasonal Index for Boning Cull Cows                                                                                                                                                                                                                                                                                                                                                                                                                  1          2005   Mar    2005.03     176.61     161.91     153.31     145.00      135.08     129.22     123.62     117.56                           153.01     144.62     136.48     130.88     127.11     121.10     115.07     109.87                            56.07     50.715         56.07
                                    1          1         1          1       1                                   1           1                                   7                                                                                                                                                                                                                                                                                                              1          2005   Apr    2005.04     183.15     170.28     157.92     147.63      137.38     130.15     122.70     117.94                           162.00     149.68     138.45     131.88     126.93     122.12     115.12     112.04                           56.825     51.005         56.83
                                01/02      02/03     03/04      04/05   05/06                               06/07       07/08        08/09                Average                                                                                                                                                                                                                                                                                                              1          2005   May    2005.05     181.35     168.66     154.44     145.29      136.16     128.12     123.50     118.29                           160.40     148.30     139.97     132.55     127.27     119.53     115.35     112.29                           57.885     51.865         57.89
               Oct               0.96       0.87      0.87       0.94    0.93                                0.91        0.88         1.06                   0.91                                                                                                                                                                                                                                                                                                              1          2005   Jun    2005.06     176.37     166.80     151.74     141.88      133.34     125.30     118.00     113.71                           157.23     148.60     137.00     129.19     121.67     117.08     111.95     108.34                           57.525      51.92         57.53
               Nov               0.96       0.85      0.93       0.96    0.95                                0.89        0.86         0.92                   0.92                                                                                                                                                                                                                                                                                                              1          2005   Jul    2005.07     175.98     162.56     145.69     134.33      124.18     117.18     111.30     106.66                           142.06     134.93     128.43     122.27     116.18     109.95     106.09     103.23                            53.98     49.435         53.98
               Dec               0.96       0.89      0.97       0.95    0.97                                0.91        0.90         0.95                   0.94                                                                                                                                                                                                                                                                                                              1          2005   Aug    2005.08     173.98     161.61     145.49     134.47      124.67     117.78     111.42     108.52                           148.25     140.03     129.43     123.67     117.25     112.60     108.49     105.83                           53.435     48.805         53.44
               Jan               1.02       0.96      0.95       0.98    1.00                                1.00        0.95         1.00                   0.98                                                                                                                                                                                                                                                                                                              1          2005   Sep    2005.09     170.83     161.03     147.34     136.97      128.54     121.04     114.77     109.12                           147.17     142.05     132.69     123.58     118.34     112.52     107.82     104.86                            48.39     44.095         48.39
               Feb               1.09       1.01      0.95       1.02    1.14                                1.04        1.05         1.00                   1.04                                                                                                                                                                                                                                                                                                              1          2005   Oct    2005.10     169.04     163.56     147.72     137.68      127.24     119.74     113.92     108.13                           138.29     134.56     127.70     121.19     114.56     109.21     104.71     101.76                           43.985     39.265         43.99
               Mar               1.11       1.02      0.94       1.04    1.09                                0.98        1.03         0.98                   1.03                                                                                                                                                                                                                                                                                                              1          2005   Nov    2005.11     167.84     159.69     146.98     135.97      126.75     118.86     112.70     107.17                           133.75     128.95     125.88     120.04     113.93     109.04     104.50     100.35                            44.58      39.75         44.58
               Apr               1.07       1.02      0.99       1.06    1.06                                1.03        1.02         1.07                   1.04                                                                                                                                                                                                                                                                                                              1          2005   Dec    2005.12     171.00     160.17     144.95     137.84      127.39     121.78     115.06     110.95                           138.20     136.10     129.45     123.72     117.88     113.57     108.57     105.57                           45.705     40.735         45.71
               May               1.04       1.03      1.03       1.08    1.01                                1.07        1.07         1.08                   1.05                                                                                                                                                                                                                                                                                                              1          2006   Jan    2006.01     182.80     172.78     161.78     148.81      139.61     131.28     123.22     118.24                           172.50     145.00     140.87     133.21     128.03     121.70     115.39     110.62                            47.27     42.565         47.27
               Jun               1.00       1.06      1.07       1.07    0.98                                1.02        1.06         0.97                   1.04                                                                                                                                                                                                                                                                                                              1          2006   Feb    2006.02     189.47     182.33     166.46     156.30      140.66     134.75     125.25     120.04                           163.75     149.00     142.89     135.66     128.02     122.89     115.64     111.00                           53.525     48.805         53.53
               Jul               0.95       1.12      1.13       1.00    0.95                                1.07        1.08         0.98                   1.04                                                                                                                                                                                                                                                                                                              1          2006   Mar    2006.03     183.60     171.75     159.75     149.62      136.50     128.10     119.66     115.78                           168.50     143.70     138.35     131.82     124.18     119.74     113.96     108.00                           51.275      47.24         51.28
               Aug               0.93       1.09      1.09       0.99    0.97                                1.08        1.10          ---                   1.04                                                                                                                                                                                                                                                                                                              1          2006   Apr    2006.04     169.63     150.57     141.59     134.73      127.54     120.59     113.92     110.08                           148.00     130.34     129.89     124.82     119.44     114.87     109.30     103.94                            49.73      44.75         49.73
               Sep               0.89       1.08      1.07       0.90    0.95                                0.99        1.02          ---                   0.98                                                                                                                                                                                                                                                                                                              1          2006   May    2006.05     162.96     157.07     141.94     132.79      124.64     119.74     113.40     108.98                           140.21     131.10     127.64     122.11     118.64     115.54     108.17     106.97                           47.365     42.905         47.37
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Jun    2006.06     165.71     151.13     140.04     131.88      124.33     118.56     114.13     110.00                           134.80     128.57     129.59     123.23     118.38     113.50     110.29     106.77                            46.09     41.315         46.09
               Average           1.00       1.00       1.00      1.00    1.00                                1.00        1.00         0.83                   1.00                                                                                                                                                                                                                                                                                                              1          2006   Jul    2006.07     169.63     155.84     136.95     129.05      123.10     118.55     113.85     110.10                           129.34     127.80     124.65     118.70     116.35     111.45     108.85     105.06                           44.925      40.85         44.93
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Aug    2006.08     169.32     155.03     141.34     133.06     125.40      118.97    114.29      109.93                           147.00     128.20     126.00     120.12     115.63     111.25     107.54     105.45                           45.895      40.87      45.90
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Sep    2006.09     169.75     160.15     149.05     135.79     128.15      121.59    115.11      109.68                           142.36     136.71     130.25     123.02     117.25     110.53     108.36     105.27                            44.61      40.31      44.61
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Oct    2006.10     168.22     157.34     143.12     133.28     122.82      115.69    108.64      103.83                           136.94     127.75     121.97     115.67     110.92     104.18     100.83      98.05                           44.215     39.065      44.22
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Nov    2006.11     161.90     147.80     135.04     122.25     114.46      104.77     98.27       94.34                           136.17     125.07     115.23     106.96     136.47      95.12      89.53      87.25                           43.285      38.34      43.29
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2006   Dec    2006.12     158.13     147.45     134.39     123.78     115.03      106.14     98.28       94.60                           135.92     125.93     116.06     107.38     100.33      94.32      91.26      88.08                           44.455     38.375      44.46
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Jan    2007.01     146.88     141.50     132.48     122.85     115.25      108.00    101.79       98.40                           135.75     129.60     116.10     109.08     101.20      99.08      96.00      94.00                            48.61     43.915      48.61
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Feb    2007.02     158.13     145.82     135.53     128.50     121.59      114.57    109.63      102.39                           123.50     124.09     117.50     112.92     107.69     102.00      99.14      93.36                            50.45     44.595      50.45
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Mar    2007.03     163.25     151.45     144.58     134.62     128.49      122.44    116.12      111.92                           133.84     134.20     122.00     116.52     113.73     108.61     104.97     101.65                           47.745     43.175      47.75
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Apr    2007.04     170.17     157.28     146.83     136.67     128.79      122.57    116.21      110.89                           149.75     135.25     124.41     119.25     115.75     111.94     108.75     105.84                            50.14      45.18      50.14
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   May    2007.05     170.72     156.41     143.64     131.85     123.97      117.45    113.39      106.70                           140.88     128.96     124.43     118.64     113.43     108.47     105.50     101.40                            51.84      46.53      51.84
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Jun    2007.06     164.57     151.67     133.23     123.38     116.65      112.83    108.04      104.08                           127.88     120.86     117.50     111.42     108.50     104.41     101.64      98.19                            49.72         45      49.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Jul    2007.07     168.35     161.50     144.50     130.70     124.41      117.42    113.60      109.50                           124.25     129.07     123.64     117.80     113.71     109.13     106.83     103.25                           52.195      47.04      52.20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Aug    2007.08     175.75     160.63     146.54     134.45     125.54      117.57    112.88      109.80                           142.50     129.19     122.07     116.36     112.80     109.75     107.18     105.73                           52.335     46.565      52.34
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Sep    2007.09     171.15     151.00     140.67     131.50     122.35      117.07    111.37      107.73                           130.83     125.25     121.30     114.77     110.07     106.50     104.32     101.12                           48.105     42.735      48.11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Oct    2007.10     154.55     139.00     132.55     123.82     115.96      108.67    103.77       99.41                           135.26     118.86     112.33     106.71     102.14      98.14      96.00      93.11                           45.695      40.09      45.70
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Nov    2007.11     153.63     133.88     126.00     119.13     111.18      104.85    101.10       96.25                           124.17     113.50     113.38     101.79      96.85      92.93      90.40      87.80                            45.01     39.405      45.01
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2007   Dec    2007.12     145.70     140.54     134.20     122.70     116.67      109.87    103.85       99.17                           131.13     116.13     113.10     107.36     102.15      97.46      96.17      96.22                           46.705     40.975      46.71
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Jan    2008.01     140.46     133.53     121.48     119.57     109.46      105.80     99.92       97.17                           121.92     115.17     103.70     101.03      96.05      95.04      90.96      90.05                            49.32     43.715      49.32
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Feb    2008.02     148.75     136.72     130.95     126.81     120.35      114.32    111.20      107.34                           124.60     115.13     112.76     110.25     108.25     105.91     101.91      99.93                           54.825     48.125      54.83
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Mar    2008.03     153.25     131.15     123.55     117.33     112.48      108.32    104.00      100.50                           123.13     116.07     108.72     107.00     102.54     100.08      96.68      95.58                           53.415     48.415      53.42
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Apr    2008.04     125.00     121.67     117.91     114.16     106.34      103.93    101.54       97.54      94.72      91.72     121.75     107.00     102.13     100.15      97.90      95.81      93.67      92.16      92.30      87.38    53.1325    47.2625      53.13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   May    2008.05     149.25     131.09     123.23     117.75     113.04      109.25    105.46      103.00     101.00      97.95     123.75     111.33     108.75     103.95     104.50     100.96      99.14      96.69      94.22      91.25      55.51      49.25      55.51
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Jun    2008.06     132.59     121.07     111.78     109.75     104.75      101.92     99.96       97.50      97.91      94.35     115.38     104.15     103.27      98.71      97.13      94.71      93.17      91.25      91.67      91.22      55.21     49.595      55.21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Jul    2008.07     135.75     130.13     119.88     112.58     107.69      102.17    101.32      100.39      98.96      98.78     117.25     108.75     102.78      98.78      97.20      92.36      91.42      90.54      89.84      88.75     56.425      50.07      56.43
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Aug    2008.08     158.88     134.80     123.13     118.27     110.73      105.64    104.13      102.00     101.55     100.32     117.50     108.50     103.22     100.82      97.39      94.29      94.50      95.67      92.95      93.90      57.17      49.97      57.17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Sep    2008.09     147.67     131.70     122.40     114.28     108.39      101.42     98.55       94.95      93.57      92.18     115.00     112.17     103.86      98.25      94.18      90.50      88.70      87.22      86.17      83.92     52.895      47.25      52.90
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Oct    2008.10     140.34     122.50     112.13     106.16      99.65       94.07     88.63       85.50      82.74      80.43     102.83      98.57      93.14      88.79      84.60      82.65      80.82      79.15      77.15      74.78     48.795     43.015      48.80
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Nov    2008.11     124.00     112.44     113.65     107.60      98.00       92.50     86.60       83.65      80.30      78.38     103.00      97.00      92.72      87.50      81.73      79.27      79.25      76.95      75.61      75.63     42.075     35.835      42.08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2008   Dec    2008.12     129.08     113.80     109.34     103.56      95.70       88.56     84.41       81.61      78.14      77.50      98.50      90.25      85.22      82.28      79.68      77.59      76.15      74.39      72.86      71.38     43.545     37.885      43.55
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Jan    2009.01     125.00     120.78     116.84     110.13     105.09      101.55     96.85       93.00      87.59      86.25     110.00      95.00      95.00      92.13      88.82      88.05      85.70      81.88      81.25      80.50      45.83    40.2675      45.83
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Feb    2009.02     130.32     114.25     109.32     104.87     102.54       97.64     91.73       87.55      87.00      86.50     108.41      97.34      92.34      88.40      86.77      83.21      81.38      80.50      79.61      78.42     46.005      40.23      46.01
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Mar    2009.03     128.13     111.50     109.87     105.05     102.37       98.13     91.23       90.75      86.61      86.30     103.50     100.67      97.73      92.23      89.57      86.55      86.45      82.50      82.18      79.67     45.235      40.32      45.24
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Apr    2009.04      133.7      122.8     115.86     112.87     108.41      105.75    101.05       98.41       95.3      92.82     120.67     106.38      98.11       96.4       91.4      92.95      91.14      87.84      85.94      82.38     49.125      43.04      49.13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   May    2009.05     126.43     118.95     115.75     111.83    103.915      104.25   100.635      98.635      96.18     94.915        114     106.69     101.54     98.415     95.375     93.665       91.5     89.905      86.41       84.5     49.455     42.835      49.46
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Jun    2009.06     120.75      120.7    117.795    110.875    103.375       99.21        96      93.815       90.9      89.45      118.5       98.5     99.095     94.595      90.91     88.725     87.635      85.85     83.665       81.7     44.685      38.94     44.685
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               1          2009   Jul    2009.07    122.335     113.91     111.09    107.275     102.55        99.5    96.045       93.95      92.19      90.85                 97.79     96.635     92.455     89.135      87.45     85.135      84.95     84.355      82.75         45      38.86         45
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               0          2009   Aug    2009.08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               0          2009   Sep    2009.09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               0          2009   Oct    2009.10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               0          2009   Nov    2009.11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               0          2009   Dec    2009.12
Historical VOG for 2.5 to 5.5 cw t steers (ov er 6 months)                                                                                                                                                     Historical VOG f or 2.5 to 5.5 cwt steers (ov er 6 months)                                                                         Historical VOG f or 2.5 to 5.5 cwt steers (ov er 6 months)                                                                                Count ========>            100          100         100          100           16           16           98          98           16           16           16          16           100         100          100          100            16           16           98           98           16            16           16          16
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Minimum =======>        37.13        28.45        22.12        17.46        17.64       17.03        39.73        31.46        36.41       36.57        42.59        44.01          44.36      32.25        28.96       22.89         30.21         28.34       45.33        35.82         42.93        34.74        47.41        46.40
                                 2001     2002    2003    2004    2005    2006                         2007             2008         2009     8-y r av g   5-y r av g    +Std    -Std     Min    Max              2001        2002        2003       2004        2005        2006       2007    2008       2009   8-y r av g   St Dev LR                2001          2002          2003     2004    2005       2006       2007    2008         2009    5-y r av g   St Dev SR              Maximum =======>       117.43       108.53        97.32        94.53        84.20       88.80       102.36        98.84        83.03       84.84        82.09        79.56         125.93     115.32       102.08      100.93         87.18         87.40      105.40        99.29         87.61        83.67        78.47        80.60
Jan                                      55.07   54.58   72.54   66.18   82.10                        51.21            44.28        58.17        53.24        63.26     78.02   28.47    0.00   82.10   Jan       0.00       55.07       54.58      72.54       66.18       82.10      51.21   44.28          .      53.24        24.78    Jan                  .             .             72.54   66.18      82.10      51.21   44.28   .                63.26        15.45               Av erage ========>      77.80        68.59        61.27        57.22        61.50       62.88        70.44        63.95        63.34       61.77        65.12        64.67          78.13      72.10        66.94       64.04         67.07         64.47       72.78        68.61         67.39        60.70        67.58        66.22
Feb                                      53.04   59.73   73.89   78.57   85.89                        54.25            70.95        50.75        59.54        72.71     86.28   32.79    0.00   85.89   Feb       0.00       53.04       59.73      73.89       78.57       85.89      54.25   70.95          .      59.54        26.75    Feb                  .             .             73.89   78.57      85.89      54.25   70.95   .                72.71        11.76
Mar                                      57.85   55.77   77.47   91.15   75.96                        74.07            68.42        64.29        62.59        77.41     90.28   34.89    0.00   91.15   Mar       0.00       57.85       55.77      77.47       91.15       75.96      74.07   68.42          .      62.59        27.69    Mar                  .             .             77.47   91.15      75.96      74.07   68.42   .                77.41         8.41
Apr                                      48.30   56.22   80.26   90.75   68.73                        80.13            67.26        86.72        61.46        77.43     89.80   33.11    0.00   90.75   Apr       0.00       48.30       56.22      80.26       90.75       68.73      80.13   67.26          .      61.46        28.35    Apr                  .             .             80.26   90.75      68.73      80.13   67.26   .                77.43         9.64               Pick Series to Use            0           0           0            0            0            0            0            1            0            0            0            0            0             0          0           0            0              0            0            0            0              0            0            0
May                                      36.52   54.73   84.18   95.39   66.33                        72.73            71.72        86.00        60.20        78.07     90.33   30.07    0.00   95.39   May       0.00       36.52       54.73      84.18       95.39       66.33      72.73   71.72          .      60.20        30.13    May    .             .             .             84.18   95.39      66.33      72.73   71.72   .                78.07        11.66               Cattle                            2.5 to 4.5 cwt months) 3.5 4 5.5 cwt months) 4.5 4 6.5 cwt months) 2.5 4 5.5 cwt months) 3.5 6 6.5 cwt months) 2.5 6 6.5 cwt months)heif ers (ov er34to 5 cwt heif ers (ov cwttomonths) 4.5 4 6.5 cwt months) heif ers months)months) 3.5 6 6.5 cwt months) heif ers months)months)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             steers steers months)     steers steers months)     steers steers months)     steers steers months)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  2 to 4 cwt steers (ov er34to 5 cwt (ov erto (ov er44to 6 cwt (ov erto (ov er24to 5 cwt (ov erto (ov er36to 6 cwt (ov erto (ov er26to 6 cwt (ov erto (ov er28to 4 cwt (ov er to months) months)(ov er 45.5 er 4 heifcwt heif erto (ov er 2 to 5 ers (ov erto 5.5 er 6 heifcwt heif erto (ov er 2 to 6 ers (ov erto 6.5 er 8 heif ers (ov er 8 months)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     steers steers months)                                                   4
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               steers 2.5 8 4.5 cwt heif ers 3.5 to months) 6 ers (ov ers months)                                  3
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          4 heif cwt 2.5 4 (ov cwtto 6 ers (ov ers months)      6 heif cwt 2.5 6 (ov cwt
Jun                              58.87   32.05   57.47   94.72   84.22   57.69                        72.89            67.48        71.35        65.67        75.40     84.76   46.58   32.05   94.72   Jun      58.87       32.05       57.47      94.72       84.22       57.69      72.89   67.48          .      65.67        19.09    Jun    .             .             .             94.72   84.22      57.69      72.89   67.48   .                75.40        14.44               Series                2.5 to 5.5 cwt steers (ov er 6 months)
Jul                              54.52   32.03   59.89   98.33   66.73   49.91                        79.24            70.12        77.03        63.85        72.87     83.78   43.91   32.03   98.33   Jul      54.52       32.03       59.89      98.33       66.73       49.91      79.24   70.12          .      63.85        19.94    Jul    .             .             .             98.33   66.73      49.91      79.24   70.12   .                72.87        17.76               Beginning Weight           200         250         300          350          400          450          200          250          300          350          200          250           200          250         300        350          400            450          200          250          300            350          200          250
Aug                              46.47   31.46   64.06   98.84   64.02   58.40                        75.09            77.71          ---        64.51        74.81     84.93   44.08   31.46   98.84   Aug      46.47       31.46       64.06      98.84       64.02       58.40      75.09   77.71          .      64.51        20.42    Aug    .             .             .             98.84   64.02      58.40      75.09   77.71   .                74.81        15.58               Ending Weight              400         450         500          550          600          650          500          550          600          650          600          650           400          450         500        550          600            650          500          550          600            650          600          650
Sep                              48.23   36.09   69.39   83.72   58.14   75.61                        66.44            72.69          ---        63.79        71.32     79.35   48.22   36.09   83.72   Sep      48.23       36.09       69.39      83.72       58.14       75.61      66.44   72.69          .      63.79        15.56    Sep    .             .             .             83.72   58.14      75.61      66.44   72.69   .                71.32         9.64               Months lagged                 4           4           4            4            4            4            6            6            6            6            8            8            4             4          4           4            4              4            6            6            6              6            8            8
Oct                              39.38   45.31   73.68   78.34   57.69   59.45                        51.91            47.51          ---        56.66        58.98     70.30   43.02   39.38   78.34   Oct      39.38       45.31       73.68      78.34       57.69       59.45      51.91   47.51          .      56.66        13.64    Oct    .             .             .             78.34   57.69      59.45      51.91   47.51   .                58.98        11.81               Av erage daily gain       1.64        1.64        1.64         1.64         1.64         1.64         1.64         1.64         1.64         1.64         1.64         1.64          1.64         1.64        1.64       1.64         1.64           1.64         1.64         1.64         1.64           1.64         1.64         1.64
Nov                              39.05   45.99   70.62   72.77   57.47   47.01                        50.07            52.47          ---        54.43        55.96     66.34   42.52   39.05   72.77   Nov      39.05       45.99       70.62      72.77       57.47       47.01      50.07   52.47          .      54.43        11.91    Nov    .             .             .             72.77   57.47      47.01      50.07   52.47   .                55.96        10.15
Dec                              53.32   51.28   78.52   62.50   67.94   43.57                        47.22            41.18          ---        55.69        52.48     68.63   42.75   41.18   78.52   Dec      53.32       51.28       78.52      62.50       67.94       43.57      47.22   41.18          .      55.69        12.94    Dec    .             .             .             62.50   67.94      43.57      47.22   41.18   .                52.48        11.98                                     Steers                                                                                                                                                  Heif ers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Y ear      Month      Y r-Mo     350-400     450-500      500-550      550-600     600-650      650-700      500-550      550-600     600-650      650-700      600-650      650-700     350-400       450-500      500-550     550-600      600-650       650-700      500-550      550-600      600-650      650-700       600-650     650-700      2.5 to 5.5 cwt steers (ov er 6 months)
Av g                             48.55   43.75   62.89   81.46   73.19   64.22                        64.60            62.65         70.62       60.14        69.23                                     Av g     28.32       43.75       62.89      81.46       73.19       64.22      64.60   62.65       0.00      60.14                 Av g       #DIV/0!       #DIV/0!       #DIV/0!   81.46   73.19      64.22      64.60   62.65       #DIV/0!      69.23                     2001   Jan        2001.01
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2001    Feb        2001.02
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2001    Mar        2001.03
Historical Seasonal Index for 2.5 to 5.5 cw t steers (ov er 6 months)                                                                                                                                          Historical Seasonal Index f or 2.5 to 5.5 cwt steers (ov er 6 months)                                                              Historical Seasonal Index f or 2.5 to 5.5 cwt steers (ov er 6 months)                                                             2001    Apr        2001.04    $ 76.02      $ 63.95      $ 57.40      $ 56.92                                                                                                           $ 69.85       $ 69.13     $ 62.29      $ 61.49
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2001    May        2001.05    $ 69.15      $ 56.70      $ 48.53      $ 44.37                                                                                                           $   65.56     $ 59.37     $ 52.04      $ 52.90                                                                                                               $ -
                                 2001    2002    2003    2004    2005    2006                                2007       2008          2009    8-y r av g   5-y r av g   +Std     -Std     Min    Max              2001        2002       2003        2004        2005       2006       2007    2008        2009   8-y r av g   St Dev LR                2001          2002          2003    2004    2005       2006       2007    2008          2009    5-y r av g   St Dev SR      2001    Jun        2001.06    $ 64.39      $ 54.73      $ 42.65      $ 42.11                               $ 62.34     $ 58.87                                                         $   68.07     $ 60.50     $ 52.05      $ 54.26                                 $ 63.30      $ 63.80                                                          $ 58.87
Jan                                      1.26    0.87    0.89    0.90    1.28                                0.79       0.71          0.82         0.84         0.91    1.23     0.44    0.00    1.28   Jan       0.00        1.26       0.87        0.89        0.90       1.28       0.79    0.71    .               0.84        0.40    Jan                  .             .             0.89    0.90       1.28       0.79    0.71    .                  0.91        0.22       2001    Jul        2001.07    $ 59.44      $ 46.83      $ 45.60      $ 45.04                               $ 59.96     $ 54.52                                                         $   60.92     $ 53.12     $ 47.94      $ 49.69                                 $ 58.95      $ 56.43                                                          $ 54.52
Feb                                      1.21    0.95    0.91    1.07    1.34                                0.84       1.13          0.72         0.93         1.06    1.34     0.52    0.00    1.34   Feb       0.00        1.21       0.95        0.91        1.07       1.34       0.84    1.13    .               0.93        0.41    Feb                  .             .             0.91    1.07       1.34       0.84    1.13    .                  1.06        0.20       2001    Aug        2001.08    $ 63.94      $ 51.10      $ 46.66      $ 43.34                               $ 54.32     $ 46.47                                                         $   60.75     $ 55.29     $ 50.31      $ 51.90                                 $ 58.43      $ 53.27                                                          $ 46.47
Mar                                      1.32    0.89    0.95    1.25    1.18                                1.15       1.09          0.91         0.98         1.12    1.40     0.56    0.00    1.32   Mar       0.00        1.32       0.89        0.95        1.25       1.18       1.15    1.09    .               0.98        0.42    Mar                  .             .             0.95    1.25       1.18       1.15    1.09    .                  1.12        0.11       2001    Sep        2001.09    $ 70.17      $ 56.69      $ 49.94      $ 47.26                               $ 56.03     $ 48.23                                                         $   68.61     $ 58.56     $ 48.84      $ 43.08                                 $ 54.73      $ 47.19                                                          $ 48.23
Apr                                      1.10    0.89    0.99    1.24    1.07                                1.24       1.07          1.23         0.95         1.12    1.35     0.55    0.00    1.24   Apr       0.00        1.10       0.89        0.99        1.24       1.07       1.24    1.07    .               0.95        0.40    Apr                  .             .             0.99    1.24       1.07       1.24    1.07    .                  1.12        0.11       2001    Oct        2001.10    $ 62.66      $ 47.75      $ 39.82      $ 32.89                               $ 50.07     $ 39.38                                                         $   59.65     $ 47.24     $ 35.90      $ 28.78                                 $ 46.14      $ 37.98                                                          $ 39.38
May                                      0.83    0.87    1.03    1.30    1.03                                1.13       1.14          1.22         0.92         1.13    1.32     0.52    0.00    1.30   May       0.00        0.83       0.87        1.03        1.30       1.03       1.13    1.14    .               0.92        0.40    May    .             .             .             1.03    1.30       1.03       1.13    1.14    .                  1.13        0.11       2001    Nov        2001.11    $ 59.71      $ 46.06      $ 37.61      $ 33.39                               $ 48.07     $ 39.05                                                         $   53.09     $ 48.48     $ 37.37      $ 30.08                                 $ 47.43      $ 39.13                                                          $ 39.05
Jun                               1.21   0.73    0.91    1.16    1.15    0.90                                1.13       1.08          1.01         1.03         1.08    1.20     0.87    0.73    1.21   Jun       1.21        0.73       0.91        1.16        1.15       0.90       1.13    1.08    .               1.03        0.17    Jun    .             .             .             1.16    1.15       0.90       1.13    1.08    .                  1.08        0.11       2001    Dec        2001.12    $ 61.99      $ 51.01      $ 41.86      $ 40.76                               $ 61.18     $ 53.32                                                         $   62.19     $ 51.79     $ 46.04      $ 48.36                                 $ 60.74      $ 57.23                                                          $ 53.32
Jul                               1.12   0.73    0.95    1.21    0.91    0.78                                1.23       1.12          1.09         1.01         1.05    1.20     0.82    0.73    1.23   Jul       1.12        0.73       0.95        1.21        0.91       0.78       1.23    1.12    .               1.01        0.19    Jul    .             .             .             1.21    0.91       0.78       1.23    1.12    .                  1.05        0.20       2002    Jan        2002.01    $ 80.25      $ 67.27      $ 57.24      $ 54.82                               $ 63.40     $ 55.07                                                         $   71.72     $ 67.20     $ 63.07      $ 56.37                                 $ 62.13      $ 57.87                                                          $ 55.07
Aug                               0.96   0.72    1.02    1.21    0.87    0.91                                1.16       1.24           ---         1.01         1.08    1.19     0.83    0.72    1.24   Aug       0.96        0.72       1.02        1.21        0.87       0.91       1.16    1.24    .               1.01        0.18    Aug    .             .             .             1.21    0.87       0.91       1.16    1.24    .                  1.08        0.17       2002    Feb        2002.02    $ 85.50      $ 75.53      $ 69.85      $ 66.65                               $ 60.73     $ 53.04                                                         $   80.38     $ 77.51     $ 71.87      $ 68.16                                 $ 62.87      $ 53.74                                                          $ 53.04
Sep                               0.99   0.82    1.10    1.03    0.79    1.18                                1.03       1.16           ---         1.01         1.04    1.16     0.87    0.79    1.18   Sep       0.99        0.82       1.10        1.03        0.79       1.18       1.03    1.16    .               1.01        0.14    Sep    .             .             .             1.03    0.79       1.18       1.03    1.16    .                  1.04        0.15       2002    Mar        2002.03    $ 75.00      $ 60.15      $ 50.98      $ 46.09                               $ 65.17     $ 57.85                                                         $   67.57     $ 56.72     $ 53.24      $ 46.06                                 $ 63.32      $ 57.18                                                          $ 57.85
Oct                               0.81   1.04    1.17    0.96    0.79    0.93                                0.80       0.76           ---         0.91         0.85    1.05     0.76    0.76    1.17   Oct       0.81        1.04       1.17        0.96        0.79       0.93       0.80    0.76    .               0.91        0.14    Oct    .             .             .             0.96    0.79       0.93       0.80    0.76    .                  0.85        0.09       2002    Apr        2002.04    $ 56.39      $ 41.17      $ 33.55      $ 22.79                               $ 58.39     $ 48.30                                                         $   56.33     $ 46.35     $ 45.05      $ 37.83                                 $ 61.07      $ 55.81                                                          $ 48.30
Nov                               0.80   1.05    1.12    0.89    0.79    0.73                                0.77       0.84           ---         0.88         0.80    1.02     0.73    0.73    1.12   Nov       0.80        1.05       1.12        0.89        0.79       0.73       0.77    0.84    .               0.88        0.14    Nov    .             .             .             0.89    0.79       0.73       0.77    0.84    .                  0.80        0.06       2002    May        2002.05    $ 51.03      $ 37.83      $ 31.79      $ 18.84                               $ 48.48     $ 36.52                                                         $   54.17     $ 40.75     $ 35.54      $ 28.94                                 $ 53.94      $ 44.37                                                          $ 36.52
Dec                               1.10   1.17    1.25    0.77    0.93    0.68                                0.73       0.66           ---         0.91         0.75    1.15     0.67    0.66    1.25   Dec       1.10        1.17       1.25        0.77        0.93       0.68       0.73    0.66    .               0.91        0.24    Dec    .             .             .             0.77    0.93       0.68       0.73    0.66    .                  0.75        0.11       2002    Jun        2002.06    $ 38.73      $ 28.45      $ 23.35      $ 17.46                               $ 41.66     $ 32.05                                                         $   48.71     $ 32.25     $ 28.96      $ 22.89                                 $ 46.08      $ 35.82                                                          $ 32.05
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2002    Jul        2002.07    $ 51.17      $ 39.34      $ 35.02      $ 25.76                               $ 43.81     $ 32.03                                                         $   55.42     $ 49.45     $ 34.72      $ 34.37                                 $ 46.69      $ 37.77                                                          $ 32.03
Av g                              1.00    1.00    1.00    1.00    1.00    1.00                               1.00        1.00         1.00         0.95         1.00                                    Av g       0.58       1.00        1.00        1.00       1.00        1.00       1.00    1.00       0.00       0.95                 Av g       #DIV/0!       #DIV/0!       #DIV/0!    1.00    1.00       1.00       1.00    1.00       #DIV/0!       1.00                    2002    Aug        2002.08    $ 56.09      $ 47.31      $ 41.40      $ 35.76                               $ 39.73     $ 31.46                                                         $   50.28     $ 44.42     $ 41.81      $ 42.33                                 $ 45.33      $ 36.67                                                          $ 31.46
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2002    Sep        2002.09    $ 53.59      $ 42.65      $ 40.81      $ 35.05                               $ 42.96     $ 36.09                                                         $ 47.53       $ 43.98     $ 42.26      $ 41.57                                 $ 46.27      $ 42.95                                                          $ 36.09
Years to include in av erages (enter a "1" to include or a "0" to exclude)                                                                                                                                                                                                                                                                                                                                                                                                          2002    Oct        2002.10    $ 65.13      $ 52.64      $ 42.15      $ 38.51                               $ 50.70     $ 45.31                                                         $ 56.43       $ 48.59     $ 39.79      $ 36.58                                 $ 48.63      $ 44.03                                                          $ 45.31
Title                            2001    2002    2003    2004    2005    2006                                2007       2008          2009         Y ears included                                                                                                                                                                                                                                                                                                                  2002    Nov        2002.11    $ 70.05      $ 57.47      $ 43.31      $ 36.89                               $ 54.57     $ 45.99                                                         $ 58.80       $ 49.06     $ 49.27      $ 45.19                                 $ 49.26      $ 44.11                                                          $ 45.99
8-y r av g                          1       1       1       1       1       1                                   1          1            na                     8                                                                                                                                                                                                                                                                                                                    2002    Dec        2002.12    $ 76.06      $ 64.28      $ 54.10      $ 50.46                               $ 58.51     $ 51.28                                                         $ 62.44       $ 57.86     $ 53.79      $ 52.56                                 $ 54.80      $ 50.11                                                          $ 51.28
5-y r av g                          0       0       0       1       1       1                                   1          1            na                     5                                                                                                                                                                                                                                                                                                                    2003    Jan        2003.01    $ 81.38      $ 69.24      $ 54.88      $ 50.74                               $ 62.73     $ 54.58                                                         $ 68.14       $ 67.64     $ 61.64      $ 59.01                                 $ 60.70      $ 56.71                                                          $ 54.58

                                                                                                             Historical Seasonal Index for 2.5 to 5.5 cwt steers                                                                                                                                                                                                                                                                                                                    2003    Feb        2003.02    $ 77.04      $ 63.50      $ 52.45      $ 47.48                               $ 66.74     $ 59.73                                                         $ 65.36       $ 64.03     $ 62.99      $ 57.54                                 $ 65.73      $ 60.26                                                          $ 59.73
       Historical VOG for 2.5 to 5.5 cwt steers (over 6 months)
8-yr avg                                                                                                                      (over 6 months)                                                                                                                                                                                                                                                                                                                                       2003    Mar        2003.03    $ 69.44      $ 62.60      $ 51.92      $ 44.11                               $ 64.68     $ 55.77                                                         $ 65.50       $ 62.37     $ 58.04      $ 53.73                                 $ 60.28      $ 57.68                                                          $ 55.77
                       $120.00                                                                                                                                                                                                                                                                                                                                                                                                                                                      2003    Apr        2003.04    $ 72.23      $ 62.08      $ 54.45      $ 43.64                               $ 65.61     $ 56.22                                                         $ 62.95       $ 58.83     $ 56.06      $ 52.62                                 $ 60.73      $ 56.96                                                          $ 56.22
                                                                                                             1.20                                                                                                                                                                                                                                                                                                                                                                   2003    May        2003.05    $ 62.28      $ 55.00      $ 49.31      $ 46.55                               $ 61.35     $ 54.73                                                         $ 68.32       $ 61.77     $ 56.08      $ 51.20                                 $ 62.55      $ 58.33                                                          $ 54.73
                       $100.00
                                                                                 Percent of Annual Average




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2003    Jun        2003.06    $ 74.64      $ 69.62      $ 60.53      $ 55.41                               $ 64.24     $ 57.47                                                         $ 64.37       $ 65.98     $ 65.88      $ 60.14                                 $ 63.73      $ 58.86                                                          $ 57.47
Value of Gain, $/cwt




                                                                                                             1.00
                        $80.00                                                                                                                                                                                                                                                                                                                                                                                                                                                      2003    Jul        2003.07    $ 80.69      $ 70.81      $ 66.30      $ 56.00                               $ 66.85     $ 59.89                                                         $ 76.15       $ 69.87     $ 68.50      $ 65.54                                 $ 70.35      $ 65.64                                                          $ 59.89
                                                                                                             0.80                                                                                                                                                                                                                                                                                                                                                                   2003    Aug        2003.08    $ 76.46      $ 69.76      $ 68.69      $ 62.03                               $ 70.31     $ 64.06                                                         $ 75.98       $ 70.01     $ 68.86      $ 66.43                                 $ 66.52      $ 66.90                                                          $ 64.06
                        $60.00                                                                               0.60                                                                                                                                                                                                                                                                                                                                                                   2003    Sep        2003.09    $ 83.27      $ 77.22      $ 66.49      $ 62.31                               $ 74.35     $ 69.39                                                         $ 82.44       $ 78.06     $ 72.33      $ 69.27                                 $ 73.50      $ 69.73                                                          $ 69.39
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2003    Oct        2003.10    $ 87.48      $ 79.19      $ 71.42      $ 65.85                               $ 79.38     $ 73.68                                                         $ 80.91       $ 74.75     $ 70.28      $ 66.29                                 $ 76.31      $ 71.87                                                          $ 73.68
                        $40.00                                                                               0.40                                          8-yr avg                                                                                                                                                                                                                                                                                                                 2003    Nov        2003.11    $ 91.90      $ 82.41      $ 69.82      $ 64.87                               $ 76.38     $ 70.62                                                         $ 92.77       $ 85.06     $ 75.59      $ 71.24                                 $ 79.66      $ 74.99                                                          $ 70.62
                        $20.00                                                                               0.20                                          5-yr avg                                                                                                                                                                                                                                                                                                                 2003    Dec        2003.12    $ 99.36      $ 86.00      $ 77.80      $ 72.52                               $ 83.51     $ 78.52                                                         $ 88.95       $ 82.08     $ 76.97      $ 73.59                                 $ 79.30      $ 75.41                                                          $ 78.52
                                                                                                             0.00                                                                                                                                                                                                                                                                                                                                                                   2004    Jan        2004.01    $ 82.96      $ 74.75      $ 62.15      $ 58.06                               $ 77.57     $ 72.54                                                         $ 83.76       $ 78.47     $ 70.39      $ 67.74                                 $ 79.73      $ 75.65                                                          $ 72.54
                           $-                                                                                                                                                                                                                                                                                                                                                                                                                                                       2004    Feb        2004.02    $ 85.33      $ 75.59      $ 64.98      $ 58.92                               $ 81.10     $ 73.89                                                         $ 87.03       $ 78.83     $ 66.84      $ 62.42                                 $ 78.58      $ 72.74                                                          $ 73.89
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Mar        2004.03    $ 95.85      $ 85.37      $ 72.39      $ 69.56                               $ 82.88     $ 77.47                                                         $ 91.17       $ 78.54     $ 72.55      $ 69.79                                 $ 81.85      $ 77.24                                                          $ 77.47
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Apr        2004.04    $ 98.90      $ 96.18      $ 81.76      $ 78.09                               $ 85.28     $ 80.26                                                         $ 93.61       $ 88.03     $ 80.84      $ 74.06                                 $ 86.27      $ 79.34                                                          $ 80.26
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    May        2004.05    $ 98.69      $ 93.62      $ 86.70      $ 83.37                               $ 89.50     $ 84.18                                                         $105.71       $ 91.99     $ 89.78      $ 87.62                                 $ 93.11      $ 86.51                                                          $ 84.18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Jun        2004.06      ######       ######     $ 89.57      $ 82.81                               $ 98.55     $ 94.72                                                         $104.73       $ 98.81     $ 95.85      $ 95.16                                 $ 98.94      $ 96.44                                                          $ 94.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Jul        2004.07      ######       ######     $ 95.60      $ 94.53                               $ 98.90     $ 98.33                                                         $111.05         ######      ######       ######                                  ######     $ 97.33                                                          $ 98.33
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Aug        2004.08      ######     $ 98.93      $ 90.37      $ 89.26                                 ######    $ 98.84                                                         $104.16       $ 99.61     $ 93.87      $ 92.84                                   ######     $ 97.30                                                          $ 98.84
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Sep        2004.09    $ 97.40      $ 88.00      $ 73.54      $ 68.37                               $ 89.23     $ 83.72                                                         $ 94.78       $ 85.93     $ 79.99      $ 72.96                                 $ 91.64      $ 86.77                                                          $ 83.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Oct        2004.10    $ 78.58      $ 66.61      $ 58.62      $ 54.27                               $ 84.60     $ 78.34                                                         $ 77.37       $ 64.41     $ 59.37      $ 52.51                                 $ 82.56      $ 75.35                                                          $ 78.34
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Nov        2004.11    $ 73.63      $ 62.56      $ 49.60      $ 45.28                               $ 81.96     $ 72.77                                                         $ 76.91       $ 70.52     $ 61.29      $ 52.14                                 $ 82.28      $ 72.52                                                          $ 72.77
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2004    Dec        2004.12    $ 81.61      $ 71.42      $ 54.69      $ 50.33                               $ 70.32     $ 62.50                                                         $ 79.58       $ 73.86     $ 63.27      $ 63.31                                 $ 73.71      $ 70.36                                                          $ 62.50
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Jan        2005.01    $ 97.50      $ 85.59      $ 73.03      $ 69.56                               $ 73.00     $ 66.18                                                         $ 92.54       $ 83.80     $ 77.69      $ 70.63                                 $ 76.56      $ 67.94                                                          $ 66.18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Feb        2005.02      ######     $ 95.37      $ 86.84      $ 79.27                               $ 89.19     $ 78.57                                                         $103.75       $ 99.13     $ 93.89      $ 86.27                                 $ 91.30      $ 82.78                                                          $ 78.57
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Mar        2005.03      ######       ######     $ 97.32      $ 92.55                                 ######    $ 91.15                                                         $119.46         ######      ######     $ 94.32                                 $ 98.67      $ 91.77                                                          $ 91.15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Apr        2005.04      ######       ######     $ 93.50      $ 88.66                               $ 98.68     $ 90.75                                                         $117.21         ######    $ 99.02      $ 98.20                                 $ 97.69      $ 94.87                                                          $ 90.75
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    May        2005.05      ######     $ 95.06      $ 86.71      $ 82.44                                 ######    $ 95.39                                                         $113.93         ######    $ 92.21      $ 89.32                                   ######     $ 99.29                                                          $ 95.39
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Jun        2005.06    $ 90.08      $ 79.54      $ 65.04      $ 58.95                               $ 91.79     $ 84.22                                                         $ 90.34       $ 82.65     $ 75.14      $ 68.88                                 $ 95.47      $ 90.94                                                          $ 84.22
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Jul        2005.07    $ 65.20      $ 50.79      $ 41.38      $ 34.95                               $ 75.38     $ 66.73                                                         $ 70.35       $ 60.29     $ 57.55      $ 53.09                                 $ 83.08      $ 78.21                                                          $ 66.73
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Aug        2005.08    $ 67.99      $ 54.19      $ 46.89      $ 44.17                               $ 67.96     $ 64.02                                                         $ 74.10       $ 67.98     $ 61.26      $ 59.07                                 $ 78.81      $ 73.51                                                          $ 64.02
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Sep        2005.09    $ 80.71      $ 63.84      $ 59.32      $ 51.78                               $ 69.18     $ 58.14                                                         $ 79.46       $ 67.41     $ 64.05      $ 62.27                                 $ 71.70      $ 67.50                                                          $ 58.14
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Oct        2005.10    $ 78.49      $ 66.21      $ 66.25      $ 62.28                               $ 68.96     $ 57.69                                                         $ 87.07       $ 77.06     $ 69.12      $ 65.86                                 $ 67.58      $ 62.97                                                          $ 57.69
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Nov        2005.11    $ 79.53      $ 65.42      $ 63.52      $ 59.38                               $ 70.26     $ 57.47                                                         $ 79.61       $ 70.30     $ 67.11      $ 59.55                                 $ 69.35      $ 60.14                                                          $ 57.47
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2005    Dec        2005.12    $ 83.95      $ 72.72      $ 66.63      $ 65.41                               $ 74.44     $ 67.94                                                         $ 88.59       $ 77.96     $ 72.39      $ 74.04                                 $ 86.24      $ 81.10                                                          $ 67.94
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Jan        2006.01      ######     $ 90.93      $ 86.47      $ 84.22                               $ 89.38     $ 82.10                                                         $117.78         ######    $ 96.93      $ 92.12                                 $ 93.48      $ 86.12                                                          $ 82.10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Feb        2006.02      ######       ######     $ 92.66      $ 92.17                               $ 94.86     $ 85.89                                                         $122.29         ######      ######     $ 95.18                                 $ 94.62      $ 85.13                                                          $ 85.89
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Mar        2006.03      ######     $ 88.02      $ 81.73      $ 77.17                               $ 86.74     $ 75.96                                                         $110.16       $ 99.28     $ 90.72      $ 80.49                                 $ 97.74      $ 85.87                                                          $ 75.96
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Apr        2006.04    $ 72.29      $ 55.35      $ 42.13      $ 42.30                               $ 77.98     $ 68.73                                                         $ 66.37       $ 77.20     $ 61.95      $ 52.73                                 $ 93.00      $ 83.10                                                          $ 68.73
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    May        2006.05    $ 59.81      $ 41.49      $ 33.82      $ 26.18                               $ 75.00     $ 66.33                                                         $ 73.53       $ 73.70     $ 56.10      $ 56.76                                 $ 88.15      $ 82.69                                                          $ 66.33
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Jun        2006.06    $ 65.06      $ 52.07      $ 45.69      $ 40.67                               $ 68.35     $ 57.69                                                         $ 68.25       $ 75.75     $ 68.21      $ 62.93                                 $ 68.82      $ 74.91                                                          $ 57.69
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Jul        2006.07    $ 76.58      $ 78.53      $ 72.25      $ 67.00                               $ 63.44     $ 49.91                                                         $ 84.70       $ 87.84     $ 77.30      $ 70.48                                 $ 72.25      $ 68.43                                                          $ 49.91
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Aug        2006.08    $ 87.84      $ 71.33      $ 72.81      $ 69.92                               $ 68.08     $ 58.40                                                         $ 91.04       $ 86.44     $ 77.39      $ 76.30                                 $ 66.89      $ 73.58                                                          $ 58.40
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Sep        2006.09    $ 90.59      $ 84.67      $ 77.70      $ 70.84                               $ 78.76     $ 75.61                                                         $ 99.71       $ 87.98     $ 76.52      $ 73.83                                 $ 81.93      $ 84.37                                                          $ 75.61
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Oct        2006.10    $ 76.01      $ 65.51      $ 66.18      $ 59.68                               $ 72.43     $ 59.45                                                         $ 92.50       $ 74.66     $ 65.10      $ 61.91                                 $ 74.58      $ 70.51                                                          $ 59.45
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Nov        2006.11    $ 59.61      $ 41.94      $ 33.67      $ 26.58                               $ 53.31     $ 47.01                                                         $125.93       $ 53.76     $ 34.81      $ 29.74                                 $ 59.35      $ 52.82                                                          $ 47.01
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2006    Dec        2006.12    $ 60.30      $ 38.62      $ 22.12      $ 22.53                               $ 50.71     $ 43.57                                                         $ 58.30       $ 41.33     $ 32.76      $ 26.93                                 $ 65.87      $ 54.97                                                          $ 43.57
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Jan        2007.01    $ 62.28      $ 46.33      $ 39.80      $ 37.36                               $ 56.77     $ 51.21                                                         $ 65.45       $ 63.24     $ 57.05      $ 56.09                                 $ 62.00      $ 65.50                                                          $ 51.21
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Feb        2007.02    $ 81.28      $ 73.03      $ 71.50      $ 67.62                               $ 69.54     $ 54.25                                                         $ 79.22       $ 73.16     $ 75.00      $ 69.55                                 $ 70.32      $ 57.23                                                          $ 54.25
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Mar        2007.03    $ 98.85      $ 91.17      $ 88.70      $ 91.17                               $ 81.38     $ 74.07                                                         $ 91.54       $ 86.95     $ 88.33      $ 91.63                                 $ 83.65      $ 79.90                                                          $ 74.07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Apr        2007.04      ######     $ 98.91      $ 91.81      $ 89.97                               $ 85.75     $ 80.13                                                         $ 95.75       $ 89.87     $ 97.73        ######                                $ 90.47      $ 89.81                                                          $ 80.13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    May        2007.05    $ 89.81      $ 81.99      $ 80.18      $ 68.54                               $ 83.57     $ 72.73                                                         $103.35       $ 88.94     $ 87.50      $ 81.23                                 $ 85.22      $ 80.95                                                          $ 72.73
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Jun        2007.06    $ 70.05      $ 64.56      $ 53.23      $ 50.63                               $ 82.14     $ 72.89                                                         $ 83.17       $ 67.16     $ 71.09      $ 66.11                                 $ 78.89      $ 72.02                                                          $ 72.89
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Jul        2007.07    $ 78.65      $ 67.60      $ 63.76      $ 61.95                               $ 83.92     $ 79.24                                                         $ 77.66       $ 76.47     $ 80.46      $ 75.25                                 $ 95.72      $ 85.89                                                          $ 79.24
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Aug        2007.08    $ 80.35      $ 69.02      $ 66.74      $ 71.22                               $ 79.29     $ 75.09                                                         $ 84.72       $ 85.74     $ 81.31      $ 83.14                                 $ 89.41      $ 82.01                                                          $ 75.09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Sep        2007.09    $ 80.12      $ 73.82      $ 78.58      $ 80.35                               $ 72.17     $ 66.44                                                         $ 92.26       $ 88.56     $ 84.55      $ 83.09                                 $ 74.03      $ 72.67                                                          $ 66.44
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Oct        2007.10    $ 63.56      $ 42.62      $ 42.66      $ 44.66                               $ 59.13     $ 51.91                                                         $ 80.03       $ 59.48     $ 54.54      $ 49.90                                 $ 66.08      $ 63.24                                                          $ 51.91
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Nov        2007.11    $ 46.60      $ 35.12      $ 32.94      $ 29.40                               $ 58.79     $ 50.07                                                         $ 51.19       $ 47.59     $ 42.90      $ 37.83                                 $ 65.42      $ 60.25                                                          $ 50.07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2007    Dec        2007.12    $ 62.19      $ 58.45      $ 48.63      $ 42.58                               $ 60.85     $ 47.22                                                         $ 73.47       $ 62.71     $ 58.46      $ 63.74                                 $ 77.44      $ 68.84                                                          $ 47.22
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Jan        2008.01    $ 64.37      $ 64.29      $ 50.98      $ 50.52                               $ 49.37     $ 44.28                                                         $ 56.84       $ 65.27     $ 58.90      $ 60.88                                 $ 56.59      $ 57.42                                                          $ 44.28
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Feb        2008.02    $ 87.07      $ 89.87      $ 89.00      $ 86.70                               $ 71.23     $ 70.95                                                         $ 92.34       $ 96.42     $ 84.71      $ 96.66                                 $ 82.63      $ 78.82                                                          $ 70.95
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Mar        2008.03    $ 79.26      $ 68.04      $ 58.70      $ 61.65                               $ 70.30     $ 68.42                                                         $ 73.96       $ 80.01     $ 72.05      $ 74.95                                 $ 70.96      $ 76.17                                                          $ 68.42
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Apr        2008.04    $ 72.21      $ 66.94      $ 71.64      $ 59.00     $ 65.23      $ 60.04      $ 66.82     $ 67.26      $ 63.43      $ 59.74      $ 56.50     $ 54.66      $ 73.88       $ 71.61     $ 78.62      $ 76.63      $ 84.81      $ 70.13       $ 73.33      $ 74.37     $ 71.22       $ 57.04       $ 73.04     $ 63.70      $ 67.26
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    May        2008.05    $ 77.33      $ 74.91      $ 67.21      $ 61.33     $ 62.31      $ 61.11      $ 78.63     $ 71.72      $ 67.80      $ 69.06      $ 74.23     $ 72.29      $ 84.40       $ 83.24     $ 78.71      $ 72.95      $ 66.16      $ 58.27       $ 77.81      $ 80.49     $ 75.34       $ 65.76       $ 73.70     $ 73.99      $ 71.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Jun        2008.06    $ 56.25      $ 65.38      $ 64.58      $ 62.80     $ 68.76      $ 62.93      $ 72.96     $ 67.48      $ 74.34      $ 64.93      $ 70.05     $ 69.65      $ 71.13       $ 68.01     $ 69.83      $ 63.69      $ 69.91      $ 71.30       $ 74.00      $ 71.32     $ 79.64       $ 76.67       $ 75.42     $ 77.30      $ 67.48
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Jul        2008.07    $ 90.38      $ 77.79      $ 76.44      $ 76.30     $ 84.20      $ 87.18      $ 69.70     $ 70.12      $ 66.96      $ 66.07      $ 75.58     $ 72.68      $ 72.64       $ 74.06     $ 75.36      $ 73.73      $ 73.73      $ 72.87       $ 69.30      $ 70.05     $ 66.93       $ 60.74       $ 69.20     $ 71.64      $ 70.12
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Aug        2008.08    $ 72.21      $ 73.83      $ 75.47      $ 74.44     $ 78.56      $ 80.21      $ 71.38     $ 77.71      $ 79.54      $ 80.46      $ 82.09     $ 79.56      $ 71.03       $ 72.98     $ 73.13      $ 81.18      $ 69.85      $ 78.01       $ 75.42      $ 78.67     $ 77.18       $ 76.60       $ 78.47     $ 80.60      $ 77.71
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Sep        2008.09    $ 84.20      $ 76.85      $ 78.71      $ 69.05     $ 71.20      $ 70.28      $ 80.92     $ 72.69      $ 69.22      $ 66.54      $ 65.97     $ 64.34      $ 72.99       $ 73.44     $ 66.84      $ 67.10      $ 64.26      $ 59.64       $ 66.67      $ 70.73     $ 70.22       $ 62.67       $ 66.96     $ 64.41      $ 72.69
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Oct        2008.10    $ 63.54      $ 49.00      $ 41.76      $ 38.11     $ 32.83      $ 31.51      $ 48.22     $ 47.51      $ 42.24      $ 36.88      $ 47.48     $ 48.73      $ 51.95       $ 50.01     $ 47.88      $ 44.78      $ 37.06      $ 35.21       $ 52.20      $ 52.32     $ 45.55       $ 35.14       $ 54.16     $ 48.97      $ 47.51
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Nov        2008.11    $ 37.13      $ 39.63      $ 31.81      $ 23.07     $ 19.44      $ 17.03      $ 55.94     $ 52.47      $ 48.83      $ 41.77      $ 57.95     $ 51.32      $ 45.95       $ 42.73     $ 43.30      $ 35.19      $ 32.05      $ 33.64       $ 55.17      $ 54.29     $ 47.95       $ 43.37       $ 52.54     $ 56.02      $ 52.47
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2008    Dec        2008.12    $ 43.74      $ 34.62      $ 27.43      $ 24.44     $ 17.64      $ 23.69      $ 50.18     $ 41.18      $ 36.41      $ 36.57      $ 42.59     $ 44.01      $ 44.36       $ 34.37     $ 34.59      $ 32.62      $ 30.21      $ 28.34       $ 48.75      $ 45.75     $ 42.93       $ 34.74       $ 47.41     $ 46.40      $ 41.18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Jan        2009.01    $ 69.85      $ 75.35      $ 73.94      $ 69.98     $ 63.47      $ 68.66      $ 55.50     $ 58.17      $ 52.05      $ 48.89      $ 65.09     $ 64.49      $ 74.81       $ 74.90     $ 74.55      $ 69.77      $ 74.55      $ 75.67       $ 64.50      $ 59.69     $ 59.29       $ 54.00       $ 64.19     $ 65.72      $ 58.17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Feb        2009.02    $ 81.08      $ 79.13      $ 58.84      $ 52.45     $ 65.00      $ 73.00      $ 54.43     $ 50.75      $ 51.60      $ 54.09      $ 62.63     $ 59.23      $ 70.54       $ 65.97     $ 64.37      $ 68.25      $ 75.38      $ 76.51       $ 58.96      $ 54.11     $ 55.36       $ 48.74       $ 60.79     $ 59.46      $ 50.75
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Mar        2009.03    $ 75.66      $ 78.54      $ 64.07      $ 68.34     $ 68.43      $ 81.23      $ 58.49     $ 64.29      $ 61.10      $ 63.14      $ 50.48     $ 55.99      $ 80.64       $ 81.93     $ 88.30      $ 82.89      $ 87.18      $ 84.35       $ 75.53      $ 69.11     $ 71.23       $ 63.96       $ 64.52     $ 61.65      $ 64.29
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Apr        2009.04    $ 91.82      $ 86.97      $ 77.37      $ 77.91     $ 75.72      $ 73.19      $ 85.75     $ 86.72      $ 76.95      $ 75.58      $ 69.12     $ 68.52      $ 72.80       $ 90.39     $ 85.35      $ 80.33      $ 80.18      $ 69.62       $ 83.23      $ 80.21     $ 79.17       $ 70.32       $ 71.41     $ 63.76      $ 86.72
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    May        2009.05    $ 77.52      $ 91.75      $ 87.61      $ 87.73     $ 83.46      $ 88.80      $ 81.67     $ 86.00      $ 83.03      $ 84.84      $ 74.10     $ 77.67      $ 82.34       $ 89.08     $ 90.25      $ 92.54      $ 85.69      $ 87.40       $ 86.83      $ 89.62     $ 87.61       $ 83.67       $ 78.20     $ 75.70      $ 86.00
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Jun        2009.06    $ 78.62      $ 83.85      $ 75.20      $ 74.15     $ 67.96      $ 69.92      $ 76.67     $ 71.35      $ 64.97      $ 65.33      $ 74.35     $ 75.08      $ 78.32       $ 73.79     $ 72.49      $ 74.69      $ 71.86      $ 70.79       $ 72.73      $ 78.23     $ 72.33       $ 66.18       $ 74.00     $ 72.14      $ 71.35
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Jul        2009.07    $ 71.40      $ 70.38      $ 66.32      $ 60.84     $ 59.75      $ 57.33      $ 73.20     $ 77.03      $ 75.06      $ 74.50      $ 73.74     $ 76.51      $ 57.60       $ 63.79     $ 65.67      $ 64.91      $ 70.27      $ 59.80       $ 69.62      $ 74.63     $ 76.38       $ 71.57       $ 77.28     $ 78.06      $ 77.03
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Aug        2009.08    N/A          N/A          N/A          N/A         N/A          N/A          N/A         N/A          N/A          N/A          N/A         N/A          N/A           N/A         N/A          N/A          N/A          N/A           N/A          N/A         N/A           N/A           N/A         N/A            #N/A
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Sep        2009.09    N/A          N/A          N/A          N/A         N/A          N/A          N/A         N/A          N/A          N/A          N/A         N/A          N/A           N/A         N/A          N/A          N/A          N/A           N/A          N/A         N/A           N/A           N/A         N/A            #N/A
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Oct        2009.10    N/A          N/A          N/A          N/A         N/A          N/A          N/A         N/A          N/A          N/A          N/A         N/A          N/A           N/A         N/A          N/A          N/A          N/A           N/A          N/A         N/A           N/A           N/A         N/A            #N/A
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Nov        2009.11    N/A          N/A          N/A          N/A         N/A          N/A          N/A         N/A          N/A          N/A          N/A         N/A          N/A           N/A         N/A          N/A          N/A          N/A           N/A          N/A         N/A           N/A           N/A         N/A            #N/A
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2009    Dec        2009.12    N/A          N/A          N/A          N/A         N/A          N/A          N/A         N/A          N/A          N/A          N/A         N/A          N/A           N/A         N/A          N/A          N/A          N/A           N/A          N/A         N/A           N/A           N/A         N/A            #N/A
Value of Gain (VOG) for user-specified weights and months

Scenario                     1           2           3         4           5         6                                                                                                  Scenario #1                                         Scenario #2                                        Scenario #3                                        Scenario #4                                       Scenario #5                                        Scenario #6
Sex                     Steers      Steers     Heifers    Steers      Steers    Steers                                                                                                  Sex                 Steers                          Sex                Steers                          Sex                Heifers                         Sex                Steers                         Sex                Steers                          Sex                Steers
                                                                                                                            Value of Gain (VOG) for user-specified weights and months
Beginning month            Oct          Jul      May         Apr        Mar       May                                                                                                   Starting month      Oct                             Starting month     Jul                             Starting month     May                             Starting month     Apr                            Starting month     Mar                             Starting month     May
Beginning weight           250         300        200        250         200       200                              140                                                                 Starting weight           250                       Starting weight          300                       Starting weight          200                       Starting weight          250                      Starting weight          200                       Starting weight          200
Ending month              Mar          Oct        Nov        Jun        Aug         Jul                                                                                                 Ending month        Mar                             Ending month       Oct                             Ending month       Nov                             Ending month       Jun                            Ending month       Aug                             Ending month       Jul
                                                                                                                    120
Ending weight              550         450        400        550         550       350                                                                                                  Ending weight             550                       Ending weight            450                       Ending weight            400                       Ending weight            550                      Ending weight            550                       Ending weight            350

                                                                                                                    100




                                                                                             Value of gain, $/cwt
Year*                                                                                                                                                                                   Start     End      Price      Price      VOG        Start     End      Price     Price      VOG        Start     End      Price     Price      VOG        Start     End      Price     Price     VOG        Start     End      Price     Price      VOG        Start     End      Price     Price     VOG
2001                    $57.85     $43.08      $46.70     $55.25      $53.54    $68.63                               80                                                                    2001.1  2002.03    123.37      87.63     57.85     2001.07  2001.10    117.39     92.62     43.08     2001.05  2001.11    122.39     84.55     46.70     2001.04  2001.06    137.14     92.47    55.25     2001.03  2001.08    147.27     87.62     53.54     2001.05  2001.07    140.79    109.87    68.63
2002                    $55.77     $48.09      $56.25     $40.44      $39.99    $63.40                                                                                                     2002.1  2003.03    111.72      81.20     55.77     2002.07  2002.10    103.69     85.16     48.09     2002.05  2002.11    106.25     81.25     56.25     2002.04  2002.06    120.27     76.73    40.44     2002.03  2002.08    136.28     75.00     39.99     2002.05  2002.07    121.64     96.68    63.40
2003                    $77.47     $79.90      $96.35     $60.39      $66.28    $85.78                               60                                                                    2003.1  2004.03    128.06     100.47     77.47     2003.07  2003.10    113.26    102.14     79.90     2003.05  2003.11    105.78    101.07     96.35     2003.04  2003.06    113.50     84.53    60.39     2003.03  2003.08    120.62     86.04     66.28     2003.05  2003.07    122.25    106.62    85.78
2004                    $91.15     $60.82      $93.66     $85.23      $98.69   $118.83                                                                                                     2004.1  2005.03    149.24     117.56     91.15     2004.07  2004.10    145.66    117.38     60.82     2004.05  2004.11    134.70    114.18     93.66     2004.04  2004.06    136.21    108.40    85.23     2004.03  2004.08    138.64    113.22     98.69     2004.05  2004.07    150.22    136.77   118.83
2005                    $75.96     $67.83      $67.46     $66.57      $69.61    $71.64                               40                                                                    2005.1  2006.03    163.56     115.78     75.96     2005.07  2005.10    145.69    119.74     67.83     2005.05  2005.11    160.40    113.93     67.46     2005.04  2005.06    170.28    113.71    66.57     2005.03  2005.08    176.61    108.52     69.61     2005.05  2005.07    181.35    134.33    71.64
2006                    $74.07     $73.18     $132.72     $76.20      $67.83    $83.84                                                                                                     2006.1  2007.03    157.34     111.92     74.07     2006.07  2006.10    136.95    115.69     73.18     2006.05  2006.11    140.21    136.47    132.72     2006.04  2006.06    150.57    110.00    76.20     2006.03  2006.08    183.60    109.93     67.83     2006.05  2006.07    162.96    129.05    83.84
2007                    $68.42     $37.00      $52.81     $59.74      $79.26    $77.33                               20                                                                    2007.1  2008.03    139.00     100.50     68.42     2007.07  2007.10    144.50    108.67     37.00     2007.05  2007.11    140.88     96.85     52.81     2007.04  2007.06    157.28    104.08    59.74     2007.03  2007.08    163.25    109.80     79.26     2007.05  2007.07    170.72    130.70    77.33
2008                    $64.29     $42.46      $39.70     $77.36      $72.71    $63.69                                                                                                     2008.1  2009.03    122.50      90.75     64.29     2008.07  2008.10    119.88     94.07     42.46     2008.05  2008.11    123.75     81.73     39.70     2008.04  2008.06    121.67     97.50    77.36     2008.03  2008.08    153.25    102.00     72.71     2008.05  2008.07    149.25    112.58    63.69
                                                                                                                      0
2009                       N/A        N/A         N/A     $69.66         N/A    $81.74                                                                                                     2009.1  2010.03       0.00       0.00     0.00     2009.07  2009.10    111.09       0.00     0.00     2009.05  2009.11    114.00       0.00     0.00     2009.04  2009.06    122.80     93.82    69.66     2009.03  2009.08    128.13       0.00     0.00     2009.05  2009.07    126.43    107.28    81.74
                                                                                                                          2001              2003              2005             2007
Average                 $70.62     $56.54      $73.21     $65.65      $68.49    $79.43
                                                                                                                                                          Year
Minimum                 $55.77     $37.00      $39.70     $40.44      $39.99    $63.40
                                                                                                                                        1      2      3      4       5    6
Maximum                 $91.15     $79.90     $132.72     $85.23      $98.69   $118.83
Standard deviation      $11.57     $16.04      $31.75     $13.49      $17.27    $16.97
* Year of beginning month

Historical cattle prices and value of gain spreadsheet
Developed by:         J. Ross Pruitt, PhD                                                 All Prices from USDA AMS
                      Department of Agricultural Economics and Agribusiness
                      Louisiana State University Agricultural Center

				
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