LM_HG203 Des Moines, Iowa Fri, Sep 19, 2008 USDA Market News NATIONAL DAILY DIRECT AFTERNOON HOG REPORT PLANT DELIVERED PURCHASE DATA FOR Friday, September 19, 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 38,527 39,606 30,163 35,993 Other Market Formula 25,819 18,507 20,523 17,370 Swine or Pork Market Formula 141,376 80,012 90,762 90,881 Other Purchase Arrangement 61,084 35,693 39,598 58,139 Packer Sold (all purchase types) 26,255 8,285 5,955 6,507 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 32,720 Compared to Prior Day's closing weighted average (LM_HG200), 1.08 higher Base Price Range $58.00 - $72.00, Weighted Average $67.73 Base Price is the price from which no discounts are subtracted and no premiums are added. -------------------------------------------------------------------------------- NATIONAL 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 60.50 76.00 61.50 75.00 62.50 74.50 64.00 76.00 64.00 76.75 0.5 58.00 76.00 60.50 76.00 62.50 76.00 63.50 75.00 64.00 76.25 0.6 58.00 75.50 60.50 76.00 61.50 76.00 62.50 76.00 64.00 75.75 0.7 58.00 73.00 58.00 74.25 60.50 75.50 62.50 76.00 63.50 76.00 0.8 56.00 73.00 58.00 73.00 60.50 74.25 61.50 74.25 63.50 76.00 0.9 56.00 71.50 58.00 71.50 58.00 73.00 60.50 73.00 62.50 74.25 1.0 55.00 69.00 56.00 71.50 58.00 71.50 60.50 71.50 61.50 73.00 1.1 54.00 66.50 56.00 69.00 58.00 69.00 58.00 71.50 61.50 71.75 1.2 54.00 66.50 55.00 66.50 56.00 66.75 58.00 69.00 60.50 70.75 1.4 50.50 64.75 53.12 64.75 53.12 64.75 53.12 66.75 53.12 68.75 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -26.40 -1.25 175# -3.33 0.00 205# -5.01 0.00 155# -26.40 0.00 185# -1.50 0.00 215# -5.01 0.00 165# -9.90 0.00 195# -1.25 0.00 225# -5.25 0.00 -------------------------------------------------------------------------------- MEASUREMENTS BASED ON SLAUGHTER DATA SUBMITTED 5-Day Rolling Average Market Hog: 194.47 lb carcass, 0.71 inch back-fat, 6.81 square inch loin/2.27 inch loin depth, FFLI: 51.86% Price Range $62.50 - $76.00 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 79,424 Base Price Range $63.86 - $72.53, Weighted Average $65.51 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 8,728 Compared to Prior Day's closing weighted average (LM_HG200), 0.01 lower Price Range $45.77 - $60.00, Weighted Average $52.68 -------------------------------------------------------------------------------- BARROWS & GILTS PURCHASE BY STATE OF ORIGIN Alabama 483 Canada 1,680 Colorado 340 Georgia 298 Iowa 61,495 Illinois 21,561 Indiana 18,586 Kansas 698 Kentucky 2,467 Michigan 3,841 Minnesota 24,673 Missouri 3,231 Mississippi 1,815 Montana 361 North Carolina 1,313 Nebraska 11,731 New York 360 Ohio 15,777 Pennsylvania 3,408 South Carolina 300 South Dakota 4,151 Tennessee 862 Wisconsin 545 -------------------------------------------------------------------------------- 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 .