Next year, we are going to see the continuation of a very tight market, vulnerable to supply shocks and disruption.

This spread has been unseasonably wide so far in 2006, reflecting the tight available supply of market ready cattle, especially in the south.

The Ecuador barrels missing from the market are another little unwelcome disruption to supply, and we're not even halfway through the Atlantic hurricane season.

We have them on the schedule next year. We're going to wait and see how they do.

If any supply disruption occurs again we can make a speedy decision,

Call it supply constraints or whatever, we have a natural gas market that is tight. We're meeting demand but at significantly higher prices.