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					                                                                                                                  April 25, 2008
                                                                                                                    Number :17

Livestock Comments by Emmit L. Rawls                              Crop comments by Delton C. Gerloff
The fed cattle trade developed earlier this week with
prices generally $2 higher in the S. Plains at $91 to             Crop comments will resume 5-2-08.
$92.50 on good volume. Prices in the North were $92 to
$93.50 live and $147 to $151 about $4 higher. The 5               Monthly comments can be found here:
area prices weekly accumulated thru Thursday were                 http://economics.ag.utk.edu/outlook.html
$92.11 live and $149.24 dressed compared to $89.97 and
$144.90 a week ago. Cutout values have finally warmed
up with prices up $5.36 on the Choice and $4.14 on the
Select compared to last Thursday. At midday Friday the
Choice cutout was $154.69 down .58 and the Select was
$151.37 down .36. The Choice Select spread was $3.23
compared to $2.26 a week ago. Wholesale values have
risen about $17 since early April, and should find
support from the demand side through Memorial Day.
However there are indications the food service restaurant
business has not been the source of price strength.
Grilling in the backyard is cheaper and saves gas
compared to families going out to eat. Feeder steer
prices were called steady to $3 higher on Tennessee
auctions. Heifers under 550 # were steady to $2 higher
with heavier heifers $4 to $5. With the corn market
down about 22 cents thru Thursday and the distant fed
cattle futures up, feeder prices were supported compared
to a week ago. Auction numbers are running below a
year ago due to the large number of cattle sold in drought
related sales in 2008.
continued, page 2


Trends for the week compared to a week ago
Slaughter cows: steady to $1 higher
Slaughter bulls: steady
Feeder steers: steady to $3 higher
Feeder heifers: under 550 lbs. steady to $2 higher, over 550 lbs $4 to $5 higher
Fed cattle: 5 area live price of $92.11 is up $2.14 from last week and the dressed price is up $4.34 at $149.24
Corn: The May futures price closed Thursday at $5.76, 27 cents less than the previous Thursday’s close
Soybeans. The May futures closed Thursday at $13.49, 2 cents less than the previous Thursday’s close
Wheat: The May futures closed Thursday at $8.09, $1.04 less than the previous Thursday’s close
Cotton: The May futures closed Thursday at $68.62, $3.13 less than the previous Thursday’s close
Livestock Comments by Emmit L. Rawls
The lower cattle inventory will hurt sales of agribusiness firms this year and likely for sometime to come. The hay crop
is starting to mature with the dry weather over the past two weeks. Corn planting is still being delayed in the major corn
growing areas and could begin to impact prices for the ‘08 crop as well as that corn still in storage. The run up in fed and
feeder futures does represent pricing opportunities thru Livestock Risk Protection (LRP), options or futures. Fall and
early ‘09 prices are reflecting anticipated tighter beef supplies. I would be inclined to use a pricing tool that left the
upside open unless one is prepared to meet margin calls required when a price is hedged by directly using futures. Some
video sales allow cattle to be forward sold into future months. If using that method, be sure to collect some earnest
money.
TECHNICALLY SPEAKING: Based on Thursday’s closing prices. April fed cattle closed at $92.25. Support is at
$91.52, then $90.27. Resistance is at $92.77, then $94.02. The RSI is at 72.41, an overbought condition. June cattle
closed at $92.68. Support is at $92.09, then $90.92. Resistance is at $93.27, then $94.44. The RSI is 65.33. August
cattle closed at $98.65. Support is $98.50, then $97.95. Resistance is at $101.35, then $102.95. The RSI is 69, down
from 74.24 yesterday. Sometimes the RSI declines ahead of a downturn in price. April feeder cattle closed at $101.80.
Support is at $101.74, then $101.64. Resistance is at $101.84, then $101.94. The RSI is 62.33. May feeders closed at
$107.03. Support is at $106.38, then $105.28. Resistance is at $107.48, then $108.58. The RSI is 70.45. August feeders
closed at $110.55. Support is at $109.60, then $109.10. Resistance is at $110.65, then $110.90. Friday’s closing futures
prices were Fed Cattle: April $92.27 +0.02; June $93.37 +0.70; August $99.07 +0.42; Feeder Cattle: May $107.75 +0.72;
August $110.65 +0.10; September $111.80 +0.15.
                    PRICES ON 17 TENNESSEE REPORTED LIVESTOCK AUCTIONS ($/cwt)
                                            April 25, 2008

                                    This Week         This Week       This Week         Last Week          Year Ago
                                          Low              High Weighted Average Weighted Average   Weighted Average
 Steers: Medium/Large Frame #1-2
 300-400 lbs.                          106.00            134.00            116.52          116.04             131.08
 400-500 lbs.                          103.00            119.00            110.10          110.21             120.92
 500-600 lbs.                           92.00            114.00            104.20          103.17             113.58
 600-700 lbs.                           86.00            106.00             97.68           95.26             105.27
 700-800 lbs                            84.00            100.00             91.63           87.61              96.76
 Steers: Small Frame #1-2
 300-400 lbs.                           80.00            110.00             98.13          100.96             115.67
 400-500 lbs.                           87.00            103.00             94.48           93.96             102.35
 500-600 lbs.                           77.00             98.00             86.85           94.58              96.46
 600-700 lbs.                            -----             -----             -----          80.51              95.37
 Steers: Medium/Large Frame #3
 300-400 lbs.                           94.00            121.00            106.85          107.81             119.81
 400-500 lbs.                           89.00            110.00            102.89          101.71             112.01
 500-600 lbs.                           85.00            100.00             96.22           93.80             105.09
 600-700 lbs.                           80.00             97.00             87.98           82.98              95.40
 700-800 lbs.                           74.00             90.50             82.55           81.30              88.32
 Holstein Steer
 300-400 lbs.                           66.00             75.00             72.40           71.35              96.96
 500-600 lbs.                           58.50             68.00             63.65           58.00              78.39
 700-800 lbs.                           61.00             61.00             61.00           65.07              67.00
 Slaughter Cows
 Breaking Utility                       49.50             59.00             54.25           53.50              48.25
 Cutter & Boning                        47.00             57.00             52.00           51.75              47.75
 Canner                                 40.00             50.00             45.00           46.00              40.50
 Bull YG 1-2                            61.00             70.00             65.50           65.75              61.00
 Heifers: Medium/Large Frame #1-2
 300-400 lbs.                           95.00            117.00            104.37          103.24             114.16
 400-500 lbs.                           86.00            113.00             98.36           96.51             107.09
 500-600 lbs.                           84.50            104.00             92.40           89.29             102.08
 600-700 lbs.                           75.00             94.00             86.28           82.81              94.56
 Heifers: Small Frame #1
 300-400 lbs.                           80.00             99.00             87.98           83.97             100.63
 400-500 lbs.                           76.00             96.50             86.92           83.84              90.58
 500-600 lbs.                           71.00             89.00             80.94           79.22              84.28
 600-700 lbs.                           75.50             83.00             81.01           77.32              77.11
 Heifers: Medium/Large Frame #3
 300-400 lbs.                          82.00             105.00              94.39          94.14             106.21
 400-500 lbs.                          80.00              98.00              91.10          89.95              99.80
 500-600 lbs                           76.00              94.00              86.51          83.93              93.95
 600-700 lbs.                          70.00              89.00              78.16          76.88              88.06
Cattle Receipts: This week: 9,973   week ago: 9,000         Year ago: 12,750
                                                   April 25, 2008




Average Daily Slaughter (number of head)
                                                                                     This week as percentage of
               This week (4 days)   Last week (4 days)      Year ago (4 days)     Week ago (%)         Year ago (%)
    Hogs            425,500              433,000                393,250                  98%              108%
   Cattle           128,000              126,500                123,000                  101%             104%



USDA Box Beef Cutout Value ($/cwt)
                    Thursday         Week ago             Year ago        Change from week ago    Change from year ago
Choice 1 - 3
   600-900 #          155.27          149.91               162.29                 5.36                    -7.02


Select 1 - 3
   600-990 #          151.73          147.59               148.36                 4.14                    3.37
                         PRICES PAID TO FARMERS BY ELEVATORS ($ / bushel)
                                Friday, April 18, 2008 - Thursday, April 24, 2008
                     Fri.          Mon.             Tues.          Wed.            Thurs.   Thurs. Harvest
                  Low High      Low High         Low High       Low High         Low High    Low High
No. 2 Yellow Soybeans
Memphis           13.41-13.43   12.95-13.00    13.61-13.62    13.59-13.63     13.38-13.43        -----
N.W. B.P.         13.35-13.36   12.89-12.94    13.52-13.56    13.52-13.55     13.28-13.34    11.63-11.63
N.W. TN.          12.81-13.14   12.35-12.70    12.94-13.30    12.92-13.22     12.68-13.00    11.20-11.30
S.W. TN.              -----         -----          -----          -----           ----           -----
Upper Md.         13.00-13.01   12.50-12.59    13.14-13.20    13.12-13.17     12.88-12.95    11.55-11.74
Lower Md.         12.97-13.11   12.51-12.66    13.10-13.24    13.22-13.22     12.84-12.98    11.31-11.55
Yellow Corn
Memphis            5.79-5.84     5.60-5.65      5.76-5.77       5.69-5.70      5.59-5.59         -----
N.W. B.P.          5.74-5.75     5.55-5.60      5.73-5.74       5.66-5.68      5.54-5.56      5.43-5.43
N.W. TN.           5.63-5.79     5.44-5.60      5.59-5.69       5.50-5.63      5.38-5.46      5.17-5.38
S.W. TN.              -----         -----          -----           -----          -----          -----
Upper Md.          5.65-5.84     5.45-5.65      5.59-5.79       5.52-5.72      5.40-5.61      5.34-5.57
Lower Md.          5.80-5.89     5.60-5.70      5.74-5.84       5.77-5.77      5.56-5.66      5.62-5.83
Wheat
Memphis            7.35-7.58     7.10-7.32      7.16-7.39       6.82-6.93      6.74-6.84         -----
N.W. B.P.             -----         -----          -----           -----          -----       6.67-6.68
N.W. TN.              -----         -----          -----           -----          -----       6.24-6.48
S.W. TN.              -----         -----          -----           -----          -----          -----
Upper Md.             -----         -----          -----           -----          -----       6.54-6.69
Lower Md.             -----         -----          -----           -----          -----       5.74-5.74
                                     FUTURES SETTLEMENT PRICES
                                                Crops & Livestock
                                 Friday, April 18 , 2008 - Thursday, April 24, 2008

Commodity       Contract Month       Fri. 18          Mon.21             Tues 22      Wed. 23   Thurs. 24
Soybeans             May             13.62             13.15              13.75        13.72     13.49
($/bu)                Jul            13.77             13.30              13.89        13.86     13.61
                     Aug             13.67            13.20               13.79        13.67     13.41
                     Sep             13.25            12.80               13.29        13.13     12.89
                     Nov             12.81            12.35               12.77        12.58     12.40
                      Jan            12.94             12.49              12.90        12.71     12.53
Corn                May               6.00             5.80               5.94         5.88       5.76
($/bu)              Jul               6.13             5.94               6.08         6.02       5.89
                    Sep               6.21             6.03               6.16         6.10       5.98
                    Dec               6.23             6.05               6.19         6.13       6.02
                    Mar               6.31             6.14               6.28         6.22       6.12
                    May               6.35             6.19               6.35         6.29       6.19

Wheat               May               8.70             8.46               8.52         8.18       8.09
($/bu)              Jul               8.85             8.59               8.66         8.32       8.24
                    Sep               9.00             8.74               8.80         8.38       8.38
                    Dec               9.18             8.90               8.89         8.65       8.57
                    Mar               9.29             9.05               9.12         8.79       8.71
Soybean Meal         May              347               337                355         352        346
($/ton)              Jul              352               341                360         356        350
                     Aug              347               337                354         349        342
                     Sep              333               323                338         330        323
                     Oct              312               301                312         304        299
                     Dec              310               298                309         302        298
Cotton              May               70.88            69.43              70.80        70.79     68.62
(¢/lb)              Jul               74.60            73.35              73.35        74.08     72.13
                    Oct               79.51            78.15              78.15        78.98     77.04
                    Dec               82.88            81.64              81.64        82.57     80.57
                    Mar               86.83            85.59              85.59        86.54     84.57

Choice Fed           Apr              89.55            90.02              90.82        91.70     92.25
Cattle               Jun              92.32            91.95              92.10        92.87      92.67
($/cwt)              Aug              98.05            97.80             98.00        99.00      98.65
                     Oct             103.20           102.65             103.05       103.97     103.90
                     Dec             104.25           103.70             103.92       104.52     104.17

Feeder Cattle        Apr             101.50           101.55             101.70       101.75     101.80
($/cwt)              May             105.72           106.02             106.07       106.57     107.02
                     Aug             108.52           109.10             109.07       110.65     110.55
                     Sep             109.05           109.85             110.05       110.95     111.65
                     Oct             110.00           110.85             110.77       111.75     112.35
                     Nov             109.80           110.57             110.50       111.45     112.07
Market Hogs          May              72.72            72.67              72.97        74.25     74.65
($/cwt)              Jun              74.35            72.97              73.67        75.42     75.00
                     Jul              75.60            74.60              75.65        77.22     77.00
                     Aug              76.92            76.65              76.97        78.47     77.95
                     Oct              73.90            73.12              73.70        74.50     73.82
    Milk Futures, Thursday , April 24, 2008 CME Futures
    Month                        Class III Close                Class IV Close
    April                             16.69                         14.78
    May                               17.66                         15.00
    June                              18.36                         16.25
    July                              18.70                         16.50
    August                            18.84                         16.90

Nashville, TN Friday, April 25, 2008 USDA-TN Dept Market News
Tennessee Video Board Sale and Graded Sale

04/24/2008 Athens Graded Holstein Steer Sale
Receipts: 665

Steers: Lg 3
200-300 lbs    88.00-101.00
300-350 lbs    86.00
350-400 lbs    87.00
400-450 lbs    78.00
450-500 lbs    73.00-78.50 mostly 78.50
500-600 lbs    75.50
600-700 lbs    69.50
700-800 lbs    61.50-64.50
800-900 lbs    57.00-61.50 Ld 816 lbs 64.95; Ld 879 lbs 65.40

Steers: Lg 4
300-350 lbs    86.00
350-400 lbs    80.00-82.00
400-450 lbs    75.50-76.50
450-500 lbs    85.50
500-600 lbs    75.00
600-700 lbs    66.50
700-800 lbs    58.00-61.00

04/22/2008 Fayetteville

Receipts: 375 Graded and Grouped

Steers: Med & Lg 1             Heifers: Med & Lg 1
300-350 lbs -------------     300-350 lbs -------------
350-400 lbs 110.00-118.00        350-400 lbs 95.00-105.50
400-450 lbs 110.00-111.00        400-450 lbs 96.00-105.00
450-500 lbs -------------     450-500 lbs 90.50-98.50
500-550 lbs 102.50-109.00        500-550 lbs 90.00-103.50
550-600 lbs 109.00            550-600 lbs 89.50-95.50
600-700 lbs 93.50-103.00         600-700 lbs 84.00-88.50
700-800 lbs 87.50-94.50         700-800 lbs 87.00
800-900 lbs 82.25-87.50         800-900 lbs -------------

Bulls: Med & Lg 1
300-350 lbs -------------
350-400 lbs -------------
400-500 lbs 97.00-107.50
500-600 lbs 95.00-104.00
600-700 lbs 85.00-92.00
Nashville, TN Monday, April 21, 2008 USDA-TN Dept Ag Market News
Tennessee Bred & Pairs Replacement


4/18/2008 Trenton
Receipts: 282

Registered black cows Medium and Large 1
3 years old 1000-1050 lbs 150-350 lb calves 1400.00-1475.00/pair
4 years old 1050-1100 lbs 250-350 lb calves 1175.00-1225.00
5 years old 1000-1150 lbs baby to 200 lb calves 1000.00-1150.00

Registered bred cows Medium and Large 1
4-5 years old 1050-1150 lbs 8 months bred 1070.00-1110.00/head
5-7 years old 1150-1400 lbs 6-8 months bred 870.00-1100.00

Commercial Bred Replacements Medium and Large 1-2
2 years old 750-850 lbs 3-4 months bred 670.00-800.00/head
3 years old 900-1150 lbs 3-7 months 600.00-640.00
4-5 years old 1000-1100 lbs 3-5 months bred 550.00-700.00
4-6 years old 1100-1300 lbs 7-8 months 860.00-94.00 lbs
8-10 years old 1100-1200 lbs 5-7 months 550.00-690.00

Cow and Calf Pairs: Medium and Large 1-2
3-4 years old 900-1150 lbs baby to 150 lb calves 970.00-1060.00
5-6 years old 1000-1200 lbs baby to 200 lb calves 810.00-1010.00
7-10 years 900-1100 lbs baby to 150 lb calves 670.00-760.00

                      **The following news summary is from the National Livestock Producers Association**
                                        for more information please go to www.NLPA.org

CLOSE, BUT NO CIGAR, ON FARM BILL FUNDING YET (Brownfield Network, 4/23) -- Another House-Senate Farm Bill Conference
Committee meeting took place yesterday, and it yielded much the same results as all the others so far. Many had hoped lawmakers would
announce an agreement on the funding issues that have stymied progress on the pending farm legislation. But they were disappointed.

Instead, Senate Agriculture Committee Chairman Tom Harkin read a statement from President Bush that urged Congress to pass a one-year
extension of the current farm bill. While not specifically saying so, the President's statement suggested he won’t sign another short-term extension
when the current one expires at the end of this week.

If there is going to be a new farm bill this year, tax writers with the House Ways and Means and Senate Finance Committees will have to reach
agreement on how to fund it. And Senate Finance Committee Chairman Max Baucus of Montana said negotiators are almost there.

MEAT AND DAIRY GROUPS NOW BACK DOWNER-CATTLE BAN (New York Times / Associated Press, 4/23) --In a significant
reversal, major meat and dairy industry groups backed a total ban on so-called downer cattle from entering the food supply. Calls for such a ban
have come from watchdog groups and some lawmakers in the wake of the large beef recall from a Southern California slaughterhouse in
February, but the industry had resisted. Current law bans slaughter of most cows that are unable to stand, or downers, but allows them in if they
fall after passing a veterinarian’s inspection and then are reinspected. Advocacy groups called that a loophole, but the Agriculture Department and
the meat industry opposed changing it. Now, under pressure from Congress and outside groups, the industry has reconsidered. The American
Meat Institute, the National Meat Association and the National Milk Producers Federation said they had petitioned the Agriculture Department to
enact a total ban. “We think that the time has come,” said Jeremy Russell, spokesman for the National Meat Association, which represents some
400 packers and processors. “We want to send a clear message to consumers that we’re putting their welfare and concerns ahead of the
economics.”

BUSH DEFENDS NAFTA TRADE AGREEMENT (USAgNet - 04/23) -- President Bush used a summit meeting Tuesday with the leaders of
Mexico and Canada to push for congressional approval of a controversial free-trade pact with Colombia and to reiterate his belief that the
struggling U.S. economy is not experiencing a recession.

"We're not in a recession," Bush said as he concluded a two-day summit here with Mexican President Felipe Calderón and Canadian Prime
Minister Stephen Harper. "We're in a slowdown. We grew in the fourth quarter of last year. We haven't seen first quarter growth statistics yet. But
there's no question we're in a slowdown. And yeah, people are concerned about it."

According to the Wall Street Journal, trade and economic issues dominated the fourth annual meeting of the three North American neighbors,
whose leaders are bucking protectionist sentiment at home, including new attacks from the Democratic presidential candidates against the 14-
year-old North American Free Trade Agreement, which includes Canada, Mexico and the United States.

GIPSA NEWS:
• E.N.A. Meat Packing, Inc. is Assessed a Civil Penalty in the Amount of $3,750 (04/22/08)
• Gary Thompson is Assessed a Civil Penalty in the Amount of $6,500 (04/22/08)

U.S. AND KOREA REACH AGREEMENT ON BEEF TRADE TERMS (National Cattlemen’s Beef Assn., 4/18) -- U.S. and Korean
officials have agreed to a trade protocol that will allow the United States to resume exports of beef to South Korea. Prior to December 2003, South
Korea represented the third-largest market for U.S. beef and beef variety meat exports, valued annually at $815 million. In September 2006, Korea
finally agreed to accept U.S. boneless beef from cattle less than 30 months of age. But this market reopening was never viable for U.S. beef
producers because it excluded bone-in beef products, which are popular with Korean consumers.

Initially, the protocol will allow for the shipment of all U.S. beef products (boneless and bone-in beef, as well as variety meats) from animals
under 30 months of age. Korea has agreed that this is a first step toward accepting all U.S. beef products from animals of all ages as directed by
the World Organization for Animal Health (OIE) guidelines.

LIVESTOCK OWNERS HIT WITH TWIN ATTACK: AVIAN FLU AND U.S. BEEF (Joon Ang Daily, 4/23) – Korea’s livestock farmers
say they are at the end of their rope. The price of livestock is crashing following the April 18 announcement that beef imports will resume from
the United States. And bird flu reappeared earlier this month, forcing farmers to slaughter close to f million chickens.

MLA CONFIDENT OF KOREAN MARKET SHARE DESPITE US RETURN (Queensland Country Life, 4/21) -- Meat and Livestock
Australia believes Australia can retain between 20pc and 30pc more of the Korean beef market than what it had in 2003 when US product was
banned. This is despite the weekend announcement that South Korea will progressively remove all barriers to the sale of US beef. In a statement
today, MLA says that the resumption of US beef imports will help Korea recover from the decline in overall beef consumption which followed the
closure of the market to US beef in December 2003. Once the import of US beef resumes, MLA anticipates Australia's market share will still be
around 20-30pc above the level Australia held prior to the 2003 BSE outbreak. The Australian beef industry has been using a platform of
Australian beef "clean and safe" in all marketing activities.

ARGENTINA EASES BEEF EXPORT RESTRICTIONS: ARGENTINE FARM GROUP (Meatingplace.com, 4/21) -- Argentina is
relaxing restrictions on beef exports in a bid to help end a conflict with farmers over price caps and export limits, Bloomberg quoted an official at
the country's largest farm group as saying. According to the report, Argentina will raise the export quota on beef to 550,000 metric tons a year
from 500,000 tons now. The Buenos Aires Rural Society official also said the Argentine government is expected next week to lift the total ban on
beef exports introduced earlier this month, adding that ranchers agreed to cap the price of certain cuts in the domestic market. Argentine ranchers
and grain farmers have staged strikes that involved keeping product from the market to protest the export restrictions.

SPECIAL ALERT – REPORTS OF HORSE ACTIVISTS AT MARKETS (Livestock Marketing Assn., 4/23) -- LMA has begun to receive
reports of animal activists at horse sales across the country. These activists may be buying horses to “rescue them,” as one group put it, from
slaughter. Other activists may be at the sale to observe and often photograph the condition of the horses being sold, and/or how the horses are
treated while at the market.

In any event, members, especially those who sell horses, should be on the alert. Know who is at your sale. Continue your policy of not accepting
downed or diseased animals, and make sure all employees know and practice proper handling methods. And remember, you always have the right
to control where people attending your sales go on your property. Members who have questions, or who want to report this type of activity, should
call LMA at 800-821-2048.

THIRD LARGEST LOSSES (Pork Alert, 4/22) -- For U.S. producers, March's losses were the third largest on record — behind November and
December 1998. As Steve Meyer and Len Steiner, agricultural economists and authors of the Chicago Mercantile Exchange's Daily Livestock
Report, point out, in 1998 November hog prices averaged $17.55 per hundredweight live; December averaged $13.92. Production costs were
$39.45 and $39.77 respectively. This March, hog prices averaged $40.62 per hundredweight live, but production costs were $54.19 per
hundredweight. As if that s not bad enough, the two point out that worse is likely to come. Reports are starting to surface that more pregnant sows
are coming to market. But it will be 12 to 18 months before those reductions have an impact on market hog prices.

ILLINOIS PREMIUM BOOKS FOR FAIR COMPETITIONS UPDATED (Brownfield Network, 4/23) -- The Illinois Agriculture
Department says it has updated its premium books for fair competitions –to include its decision to make premises identification for livestock
exhibitors voluntary. Department spokesman Jeff Squibb says the outcry over the mandatory program, instituted last fall, might have been
avoided, "Perhaps we have not done a good enough job of explaining the animal health benefits to the livestock industry." Squibb says the
department still believes premises identification is the way to go and is NOT unduly burdensome, "The system does not ask for proprietary
information, it does not even ask for how many animals a person owns. It simply asks for a person's name and contact information, the species of
animal that they own and where that animal is kept." And that information is kept in an electronic database that Squibb says makes it easier to
access in the event of an animal disease outbreak.

AURORA ORGANIC DAIRY AND COLORADO STATE UNIVERSITY ANNOUNCE RESEARCH PARTNERSHIP FUNDED BY
AURORA ORGANIC DAIRY FOUNDATION (Centre Daily Times, 4/22) -- Aurora Organic Dairy, a leading U.S. provider of high-quality
private-label organic milk and butter, and Colorado State University (CSU), one of the nation's leading research universities, today announced a
multi-year master research agreement with the University's College of Agricultural Sciences, College of Veterinary Medicine and Biomedical
Sciences and Department of Food Science and Human Nutrition, which is in the College of Applied Human Sciences. CSU professors and leading
professionals in agricultural sciences will lead this groundbreaking research initiative, funded by a three-year $500,000 grant from the Aurora
Organic Dairy Foundation.The research will focus on animal welfare, veterinary medicine, growing perennial forage crops and optimizing soil
fertility for organic pasture development in the Rocky Mountain West. Findings will be shared with the organic agriculture community to build
the industry's knowledge base and capabilities for continuing the sustainable growth of organic agriculture, particularly in Northern Colorado -
one of the most productive dairy regions in the country, and home to CSU.

MINN. BOARD OF ANIMAL HEALTH CONFIRMS BECKER COUNTY COWS DIED OF ANTHRAX (CattleNetwork.com, 4/22) --
The Minnesota Board of Animal Health confirmed today that two cows on a Becker County farm died last week of anthrax, the first anthrax cases
in 2008. The herd will remain under quarantine for 30 days from the day the last death occurs from anthrax. After the dead cows were discovered
on pasture, a blood sample was collected and sent to the North Dakota State University Veterinary Diagnostic Laboratory in Fargo. Tests
confirmed the samples were positive for anthrax. The herd was not vaccinated for anthrax this year.
http://www.cattlenetwork.com/intervet_Content.asp?contentid=215352

FOOD AND ENERGY PRICES LEAD INFLATION TREND (Drover’s Alert, 4/17) -- Inflation at the wholesale level soared in March by
1.1 percent, according to news reports. That represents the largest increase since a 2.6 percent rise last November and nearly triple the rate that
analysts expected. Energy and food prices accounted for much of the increase, according to Department of Labor statistics. Energy prices rose 2.9
percent during March, while food prices were up 1.2 percent. Core inflation, which excludes energy and food, rose 0.2 percent, down from a 0.5
percent rise in February. Over the past 12 months, overall wholesale prices have increased 6.9 percent while core inflation is up 2.7 percent,
which is the largest year-over-year increase in nearly two years.




                                    Emmit Rawls                                           Delton Gerloff
                                    Professor                                             Professor
                                    Agricultural Economics                                Agricultural Economics

                                                     University of Tennessee Extension
                                                   Department of Agricultural Economics
                                                   314 Morgan Hall • 2621 Morgan Circle

                                                       http://economics.ag.utk.edu/
                                              http://www.tnbeefcattleinitiative.org/curmkt.htm

                                   USDA / Tennessee Department of Agriculture Market News Service
                                        http://picktnproducts.org/producer/marketreport.html
                                                          1-800-342-8206

				
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