LM_HG205 Des Moines, Iowa Fri, Jan 16, 2009 USDA Market News *NEW NEGOTIATED CARCASS TRENDING INFORMATION ON NATIONAL REPORTS LM_HG200 AND LM_HG203* IOWA/MINNESOTA DAILY DIRECT MORNING HOG REPORT BASED ON STATE OF ORIGIN PLANT DELIVERED PURCHASE DATA FOR Friday, January 16, 2009 (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 13,974 2,060 6,170 3,866 Other Market Formula 5,272 690 0 350 Swine or Pork Market Formula 96,917 35,643 40,146 26,598 Other Purchase Arrangement 34,432 865 850 4,750 Packer Sold (all purchase types) 13,600 1,525 2,372 3,495 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 1,840 Compared to Prior Day's closing weighted average (LM_HG204), 2.20 lower Base Price Range $40.25 - $60.47, Weighted Average $56.76 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 42.75 64.47 43.75 63.50 44.75 63.50 46.25 65.00 46.25 65.00 0.5 40.25 64.47 42.75 64.47 44.75 64.47 45.75 63.50 46.25 63.50 0.6 40.25 63.97 42.75 64.47 43.75 64.47 44.75 64.47 46.25 63.50 0.7 40.25 61.47 40.25 62.47 42.75 63.97 44.75 64.47 45.75 64.47 0.8 38.25 60.96 40.25 61.47 42.75 62.47 43.75 62.47 45.75 64.47 0.9 38.25 59.46 40.25 59.47 40.25 60.96 42.75 61.47 44.75 62.47 1.0 37.25 57.47 38.25 59.46 40.25 59.46 42.75 59.47 43.75 61.47 1.1 36.25 54.47 38.25 56.96 40.25 57.47 40.25 59.46 43.75 59.47 1.2 36.25 54.46 37.25 54.46 38.25 54.47 40.25 56.96 42.75 57.47 1.4 32.75 50.47 36.25 50.47 37.25 50.47 38.25 52.47 40.25 54.46 -------------------------------------------------------------------------------- CARCASS WEIGHT DIFFERENTIALS 145# -20.80 -9.52 175# -3.00 0.00 205# 0.00 0.00 155# -20.80 -6.76 185# 0.00 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: 207.08 lb carcass, 0.74 inch back-fat, 6.87 square inch loin/2.29 inch loin depth, FFLI: 51.39% Price Range $44.75 - $64.47 -------------------------------------------------------------------------------- SWINE OR PORK MARKET FORMULA PURCHASE (Including Packer Sold) Barrows & Gilts (carcass basis): 33,660 Base Price Range $51.41 - $63.53, Weighted Average $54.14 -------------------------------------------------------------------------------- NEGOTIATED PURCHASE (Including Packer Sold) Barrows & Gilts (live basis, 240-300 lbs): 325 Compared to Prior Day's closing weighted average (LM_HG204), 1.63 lower Price Range $41.02 - $45.02, Weighted Average $41.51 -------------------------------------------------------------------------------- BARROWS & GILTS PURCHASE BY STATE OF ORIGIN Iowa 24,029 Minnesota 15,534 -------------------------------------------------------------------------------- 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 .