LM_HG212 Des Moines, Iowa Fri, May 09, 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. WESTERN CORNBELT DAILY DIRECT AFTERNOON HOG REPORT BASED ON STATE OF ORIGIN PLANT DELIVERED PURCHASE DATA FOR Friday, May 9, 2008 (As of 1:30 PM) CURRENT VOLUME BY PURCHASE TYPE LIVE AND CARCASS BASIS Estimated Actual Actual Actual Today Today Week Ago Year Ago Producer Sold: Negotiated 29,126 23,447 18,730 12,325 Other Market Formula 42,642 30,144 12,005 8,930 Swine or Pork Market Formula 83,094 42,417 51,183 47,910 Other Purchase Arrangement 38,295 11,065 39,300 30,583 Packer Sold (All Purchase Types): 8,725 6,986 5,515 6,759 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 19,335 Compared to Prior Day's closing weighted average (LM_HG208), .81 higher. Base Price Range $68.00 - $81.76, Weighted Average $79.07 Base Price is the price from which no discounts are subtracted and no premiums are added. -------------------------------------------------------------------------------- WESTERN CORNBELT DAILY DIRECT NEGOTIATED HOG PURCHASES 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 70.50 85.76 71.50 85.86 72.50 87.48 73.13 89.10 73.13 89.10 0.5 68.00 85.76 70.50 85.76 72.50 86.67 73.13 88.29 73.13 89.91 0.6 68.00 85.32 70.50 85.76 71.50 85.86 72.50 87.48 74.00 89.10 0.7 68.00 85.32 68.00 85.32 70.50 85.32 72.50 86.67 73.50 88.29 0.8 66.00 85.32 68.00 85.32 70.50 85.32 71.50 85.86 73.50 87.48 0.9 66.00 81.37 68.00 81.37 68.00 83.43 70.50 85.05 72.50 86.67 1.0 65.00 81.37 66.00 81.37 68.00 82.62 70.50 84.24 71.50 85.86 1.1 64.00 78.57 66.00 79.38 68.00 81.00 68.00 83.43 68.87 85.05 1.2 64.00 77.76 65.00 78.57 66.00 80.19 68.00 82.62 68.87 84.24 1.4 58.93 76.14 58.93 76.95 58.93 78.57 58.93 80.19 58.93 82.62 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -31.60 -9.52 175# -4.05 0.00 205# 0.00 0.00 155# -31.60 -6.20 185# -1.50 0.00 215# -0.81 0.00 165# -11.85 -1.35 195# 0.00 0.00 225# -5.25 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5 Day Rolling Average Market Hog: 198.71 lb carcass, 0.70 inch back-fat, 7.05 square inch loin/2.35 inch loin depth, FFLI: 52.16% Price Range $72.50 - $86.67 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 42,874 Base Price Range $67.06 - $80.82, Weighted Average $73.65 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 5,652 Compared to Prior Day's closing weighted average (LM_HG208), .08 lower. Price Range $53.56 - $64.00, Weighted Average $60.52 -------------------------------------------------------------------------------- SOWS NEGOTIATED PURCHASE (Including Packer Sold) Sows Purchased (live and carcass basis): 964 Weight Range Head Count Avg Weight Price Range Wtd Avg (Live Basis) 300-449 lbs. 137 415 21.25-27.50 26.05 450-499 lbs. 260 484 24.35-30.98 28.00 500/up lbs. 567 551 25.91-30.72 29.12 -------------------------------------------------------------------------------- ALL SWINE PURCHASES BY STATE OF ORIGIN Iowa 57,571 Kansas 1,093 Minnesota 25,755 Missouri 2,647 Nebraska 28,952 South Dakota 4,605 -------------------------------------------------------------------------------- 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 1500C .