LM_HG204 Des Moines, Iowa Wed, May 14, 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. IOWA/MINNESOTA DAILY DIRECT PRIOR DAY HOG REPORT BASED ON PLANT LOCATION PLANT DELIVERED PURCHASE DATA FOR Tuesday, May 13, 2008 CURRENT VOLUME BY PURCHASE TYPE LIVE AND CARCASS BASIS Actual Actual Actual Prior Day Week Ago Year Ago Producer Sold Negotiated 21,584 20,987 13,239 Other Market Formula 20,228 24,986 25,864 Swine or Pork Market Formula 71,079 71,997 81,598 Other Purchase Arrangement 17,237 11,360 10,313 Packer Sold (all purchase types) 8,752 10,093 9,942 -------------------------------------------------------------------------------- NEGOTIATED OTHER SWINE OTHER TOTALS/ MARKET OR PORK PURCHASE WTD AVG FORMULA MARKET ARRGMENT FORMULA Barrows & Gilts (carcass basis): Producer Sold Head Count 17,270 20,228 68,822 17,067 123,387 Base Price 81.90 70.06 79.76 73.42 77.59 Packer Sold Head Count 7,699 Base Price 73.15 -------------------------------------------------------------------------------- NEGOTIATED PURCHASES (Including Packer Sold) Barrows & Gilts (carcass basis): 17,270 Compared to Prior Day's closing weighted average (LM_HG204), 1.16 higher. Base Price Range $71.00 - $85.51, Weighted Average $81.90 Base Price is the price from which no discounts are subtracted and no premiums are added. -------------------------------------------------------------------------------- IOWA/MINNESOTA 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 73.50 89.51 74.50 88.51 74.68 88.01 74.68 89.43 74.68 89.43 0.5 71.00 89.51 73.50 89.51 74.68 89.51 74.68 88.62 74.68 90.24 0.6 71.00 89.01 73.50 89.51 74.50 89.51 75.50 89.51 77.00 89.43 0.7 71.00 86.51 71.00 87.51 73.50 89.01 75.50 89.51 76.50 89.51 0.8 69.00 86.40 71.00 86.51 73.50 87.51 74.50 87.51 76.50 89.51 0.9 69.00 83.51 71.00 84.51 71.00 85.51 73.50 86.51 74.68 87.51 1.0 68.00 82.51 69.00 83.51 71.00 83.51 73.50 84.55 74.50 86.51 1.1 67.00 79.51 69.00 81.01 70.33 82.51 70.33 83.74 70.33 85.37 1.2 67.00 78.51 68.00 78.86 69.00 80.49 70.33 82.93 70.33 84.55 1.4 60.18 76.42 60.18 77.24 60.18 78.86 60.18 80.49 60.18 82.93 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -32.00 -9.52 175# -4.07 0.00 205# 0.00 0.00 155# -32.00 -6.24 185# -0.81 0.00 215# -0.81 0.00 165# -12.00 -1.35 195# 0.00 0.00 225# -5.25 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5-Day Rolling Average Market Hog: 198.60 lb carcass, 0.70 inch back-fat, 7.11 square inch loin/2.37 inch loin depth, FFLI: 52.20% Price Range $75.50 - $89.51 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 76,521 Base Price Range $71.00 - $86.77, Weighted Average $79.10 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 2,906 Compared to Prior Day's closing weighted average (LM_HG204), .19 higher. Price Range $53.28 - $65.50, Weighted Average $62.86 -------------------------------------------------------------------------------- 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 0800C .