Italicized players are those who are
on inelegible teams and are subject to forfeited draft picks
| Trade # | Team | Traded | To | For |
|---|---|---|---|---|
| 16 | Dynamo | Mitch Meluskey | Grizzlies | 2004 6th RDP |
| 15 | Haymakers | 2004 5th RDP | Lions | Bubba Trammell |
| 14 | 33's | Kenny Lofton / Billy Koch Shane Halter | Lions | Jamey Carroll / Xavier Nady Kerry Robinson |
| 13 | Sharks | Ryan Drese | Pumas | Darren Bragg |
| 12 | Dynamo | Troy Percival / Cal Eldred | Lions | Tom Gordon / Jung Bong |
| 11 | Knights | 2004 4th RDP | Haymakers | Michael Ryan |
| 10 | Knights | Phil Nevin / Xavier Nady J.J Davis / Ryan Vogelsong | Lions | Raul Ibanez / Jason Bay Jason Simontacchi / Mike Basik Lions 2004 4th RDP |
| 9 | Knights | Trey Lunsford / Michel Hernandez | Royals | 2004 4th RDP |
| 8 | Dynamo | Jason Bere | Rockets | Jason Conti |
| 7 | Rockets | Rob Mackowiak / Jason Simontacchi | Lions | Ryan Freel / Kent Mercker |
| 6 | Dynamo | Ryan Freel / Benji Gil | Lions | Wily-Mo Pena / Carlos Febles |
| 5 | Centurions | Derek Jeter / Troy Percival | Dynamo | Edgar Renteria / Scott Williamson |
| 4 | Dynamo | Richie Sexson / Jose Cruz Jr. Francisco Cordero | Knights | Chipper Jones / Ken Harvey Scott Williamson |
| 3 | Pumas | Mark Johnson | Royals | Adrian Brown |
| 2 | Rockets | Alex Cora / Orlando Merced | Haymakers | Russell Branyan / Ramon Martinez |
| 1 | Colt45's | Julio Lugo / Fred McGriff | Pumas | Eric Karros / Fernando Tatis |