LM_HG211 Des Moines, Iowa Wed, Aug 20, 2008 USDA Market News WESTERN CORNBELT DAILY DIRECT MORNING HOG REPORT BASED ON STATE OF ORIGIN PLANT DELIVERED PURCHASE DATA FOR Wednesday, August 20, 2008 (As of 9:30 AM) CURRENT VOLUME BY PURCHASE TYPE BARROWS & GILTS LIVE AND CARCASS BASIS Estimated Actual Actual Actual Today Today Week Ago Year Ago Producer Sold Negotiated 16,007 2,817 3,568 6,290 Other Market Formula 17,990 0 813 0 Swine or Pork Market Formula 73,102 28,136 32,569 34,328 Other Purchase Arrangement 12,015 4,842 6,075 7,985 Packer Sold (all purchase types) 12,069 3,569 2,969 4,355 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 2,686 Compared to Prior Day's closing weighted average (LM_HG208), 2.93 lower Base Price Range $77.00 - $85.55, Weighted Average $83.46 Base Price is the price from which no discounts are subtracted and no premiums are added. -------------------------------------------------------------------------------- WESTERN CORNBELT 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 79.50 91.59 80.50 92.66 81.50 94.90 83.00 96.56 83.00 98.21 0.5 77.00 90.10 79.50 91.17 81.50 93.41 82.50 95.07 83.00 96.72 0.6 77.00 91.26 79.50 91.26 80.50 91.92 81.50 93.58 83.00 95.23 0.7 77.00 91.26 77.00 91.26 79.50 91.26 81.50 92.08 82.50 93.74 0.8 75.00 91.26 77.00 91.26 79.50 91.26 80.50 91.26 82.50 92.39 0.9 75.00 87.04 77.00 87.04 77.00 88.12 79.50 89.83 81.50 91.54 1.0 74.00 87.04 75.00 87.04 77.00 87.26 79.50 88.97 80.50 90.68 1.1 73.00 82.98 75.00 83.84 77.00 85.55 77.00 88.12 80.03 89.83 1.2 73.00 82.13 74.00 82.98 75.00 84.69 77.00 87.26 79.50 88.97 1.4 68.48 80.42 68.48 81.27 68.48 82.98 68.48 84.69 68.48 87.26 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -33.80 -1.66 175# -4.28 0.00 205# -6.62 0.00 155# -33.80 0.00 185# -0.86 0.00 215# -6.62 0.00 165# -12.68 0.00 195# -1.66 0.00 225# -6.62 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5-Day Rolling Average Market Hog: 194.05 lb carcass, 0.72 inch back-fat, 6.93 square inch loin/2.31 inch loin depth, FFLI: 51.78% Price Range $81.50 - $92.08 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 28,420 Base Price Range $82.14 - $87.62, Weighted Average $82.95 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 429 Compared to Prior Day's closing weighted average (LM_HG208), 0.97 lower Price Range $60.45 - $68.93, Weighted Average $66.46 -------------------------------------------------------------------------------- BARROWS & GILTS PURCHASE BY STATE OF ORIGIN Iowa 18,384 Kansas 392 Minnesota 11,324 Missouri 985 Nebraska 5,712 South Dakota 365 -------------------------------------------------------------------------------- Source: USDA Market News Service, Des Moines, IA 515-284-4460 email: desm.lgmn@usda.gov 24 Hour recorded market information 515-284-4830 www.ams.usda.gov/LSMarketNews 1100C .