LM_HG212 Des Moines, Iowa Tue, Dec 02, 2008 USDA Market News WESTERN CORNBELT 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 26,036 12,638 15,722 12,887 Other Market Formula 15,721 7,729 3,430 3,868 Swine or Pork Market Formula 82,302 48,692 41,222 38,618 Other Purchase Arrangement 14,407 11,335 13,233 13,015 Packer Sold (all purchase types) 11,439 5,845 4,681 5,068 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 13,659 Compared to Prior Day's closing weighted average (LM_HG208), 0.02 lower Base Price Range $47.00 - $56.76, Weighted Average $54.79 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 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 -4.08 185# -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: 203.51 lb carcass, 0.72 inch back-fat, 6.90 square inch loin/2.30 inch loin depth, FFLI: 51.73% Price Range $51.50 - $60.76 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 45,902 Base Price Range $46.54 - $57.48, Weighted Average $49.96 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 2,271 Compared to Prior Day's closing weighted average (LM_HG208), 1.74 lower Price Range $34.57 - $43.00, Weighted Average $41.06 -------------------------------------------------------------------------------- BARROWS & GILTS PURCHASE BY STATE OF ORIGIN Iowa 47,632 Kansas 1,090 Minnesota 23,640 Missouri 1,629 Nebraska 6,462 South Dakota 2,397 -------------------------------------------------------------------------------- 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 .