LM_HG202 Des Moines, Iowa Thu, May 08, 2008 USDA Market News This report is based on information provided by companies that agreed to continue to participate in Livestock Mandatory Reporting on a voluntary basis. NATIONAL DAILY DIRECT MORNING HOG REPORT PLANT DELIVERED PURCHASE DATA FOR Thursday, May 8, 2008 (As of 9:30 AM) CURRENT VOLUME BY PURCHASE TYPE LIVE AND CARCASS BASIS Estimated Actual Actual Actual Today Today Week Ago Year Ago Producer Sold: Negotiated 40,013 11,752 9,134 6,767 Other Market Formula 39,181 4,995 5,342 2,561 Swine or Pork Market Formula 118,831 34,236 35,217 47,037 Other Purchase Arrangement 33,000 8,165 15,178 6,961 Packer Sold (All Purchase Types): 16,695 6,491 5,425 3,421 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 9,947 Compared to Prior Day's closing weighted average (LM_HG200), .64 lower. Base Price Range $65.00 - $79.39, Weighted Average $76.12 Base Price is the price from which no discounts are subtracted and no premiums are added. -------------------------------------------------------------------------------- NATIONAL DAILY DIRECT NEGOTIATED HOG PURCHASE MATRIX 185 lb Carcass Basis (Defined by Muscle and Fat) LOIN AREA/DEPTH (INCHES) BACK-FAT 4.0/1.4 5.0/1.7 6.0/2.0 7.0/2.3 8.0/2.7 0.4 67.50 83.39 68.50 83.50 69.50 85.43 71.00 86.93 71.00 88.42 0.5 65.00 83.39 67.50 83.39 69.50 84.09 70.50 85.58 71.00 87.14 0.6 65.00 82.89 67.50 83.39 68.50 83.39 69.50 84.78 71.00 86.35 0.7 65.00 81.00 65.00 81.75 67.50 82.89 69.50 84.00 70.50 85.57 0.8 63.00 81.00 65.00 81.00 67.50 81.75 68.50 83.21 70.50 84.78 0.9 63.00 79.00 65.00 79.00 65.00 80.86 67.50 82.43 69.50 84.00 1.0 62.00 77.25 63.00 79.00 65.00 80.07 67.50 81.64 68.50 83.21 1.1 61.00 76.15 63.00 76.93 65.00 78.50 65.00 80.86 68.50 82.43 1.2 61.00 75.36 62.00 76.15 63.00 77.72 65.00 80.07 67.50 81.64 1.4 57.50 73.79 58.93 74.58 58.93 76.15 58.93 77.72 58.93 80.07 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -30.00 -1.49 175# -3.93 0.00 205# -5.96 0.00 155# -30.00 0.00 185# -0.79 0.00 215# -5.96 0.00 165# -11.25 0.00 195# -1.49 0.00 225# -5.96 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5-Day Rolling Average Market Hog: 196.63 lb carcass, 0.70 inch back-fat, 7.08 square inch loin/2.36 inch loin depth, FFLI: 52.19% Price Range $69.50 - $84.00 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 37,584 Base Price Range $67.00 - $79.68, Weighted Average $72.98 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 1,442 Compared to Prior Day's closing weighted average (LM_HG200), .37 lower. Price Range $53.07 - $61.57, Weighted Average $58.35 -------------------------------------------------------------------------------- SOWS NEGOTIATED PURCHASE (Including Packer Sold) Sows Purchased (live and carcass basis): 461 Weight Range Head Count Avg Weight Price Range Wtd Avg (Live Basis) 300-449 lbs. prices not reported due to confidentiality 450-499 lbs. 215 465 23.00-27.27 24.23 500/up lbs. 246 560 24.50-30.27 26.32 -------------------------------------------------------------------------------- ALL SWINE PURCHASES BY STATE OF ORIGIN Arkansas 99 Canada 454 Georgia 88 Iowa 23,255 Illinois 2,763 Indiana 5,704 Kansas 414 Kentucky 177 Louisiana 25 Michigan 659 Minnesota 11,995 Missouri 334 Mississippi 1,673 North Carolina 675 Nebraska 3,475 New York 300 Ohio 8,561 Oklahoma 271 Pennsylvania 3,720 South Dakota 175 Tennessee 778 Wisconsin 222 Wyoming 180 -------------------------------------------------------------------------------- Source: USDA Market News, Des Moines, IA 515-284-4460 email: desm.lgmn@usda.gov 24 Hour recorded market information 515-284-4830 http://www.ams.usda.gov/LSMarketNews 1100C .