LM_HG206 Des Moines, Iowa Tue, Dec 02, 2008 USDA Market News IOWA/MINNESOTA DAILY DIRECT AFTERNOON HOG REPORT BASED ON STATE OF ORIGIN PLANT DELIVERED PURCHASE DATA FOR Tuesday, December 2, 2008 (As of 1:30 PM) CURRENT VOLUME BY PURCHASE TYPE BARROWS & GILTS LIVE AND CARCASS BASIS Estimated Actual Actual Actual Today Today Week Ago Year Ago Producer Sold Negotiated 19,676 7,407 13,115 10,590 Other Market Formula 11,491 7,729 3,430 3,068 Swine or Pork Market Formula 54,702 41,669 37,174 29,269 Other Purchase Arrangement 13,792 11,155 12,570 12,940 Packer Sold (all purchase types) 9,769 2,785 3,491 2,572 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 10,791 Compared to Prior Day's closing weighted average (LM_HG204), 0.18 lower Base Price Range $47.00 - $56.76, Weighted Average $54.63 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 49.50 60.74 50.50 59.76 51.50 59.76 51.50 61.25 51.50 62.25 0.5 47.00 60.76 49.50 60.76 51.50 60.74 51.50 60.50 51.50 61.75 0.6 47.00 60.24 49.50 60.76 50.50 60.76 51.50 60.74 53.00 61.25 0.7 47.00 58.26 47.00 59.51 49.50 60.24 51.50 60.76 52.50 60.76 0.8 45.00 58.26 47.00 58.26 49.50 59.51 50.50 59.51 52.50 60.76 0.9 45.00 56.76 47.00 56.76 47.00 58.26 49.50 58.26 51.50 59.51 1.0 44.00 54.26 45.00 56.76 47.00 56.76 49.50 56.76 50.50 58.26 1.1 43.00 52.38 45.00 54.26 47.00 54.26 47.00 56.76 48.50 57.25 1.2 43.00 51.84 44.00 52.38 45.00 53.46 47.00 55.08 48.50 56.25 1.4 39.50 50.76 41.50 51.30 41.50 52.38 41.50 53.46 41.50 55.08 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -20.80 -9.52 175# -3.25 0.00 205# 0.00 0.00 155# -20.80 -4.12 185# -1.50 0.00 215# -0.67 0.00 165# -7.80 -1.35 195# 0.00 0.00 225# -5.25 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5-Day Rolling Average Market Hog: 204.45 lb carcass, 0.73 inch back-fat, 6.87 square inch loin/2.29 inch loin depth, FFLI: 51.55% Price Range $51.50 - $60.76 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 37,899 Base Price Range $46.54 - $56.99, Weighted Average $49.80 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 1,996 Compared to Prior Day's closing weighted average (LM_HG204), 1.65 lower Price Range $34.57 - $43.00, Weighted Average $41.28 -------------------------------------------------------------------------------- BARROWS & GILTS PURCHASE BY STATE OF ORIGIN Iowa 47,632 Minnesota 23,640 -------------------------------------------------------------------------------- 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 1500C .