AVERAGE PRICES RECEIVED BY IOWA FARMERS BEEF CATTLE - DOLLARS PER CWT. --------------------------------------------------------------------------- 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 --------------------------------------------------------------------------- JAN 25.30 22.80 23.50 22.80 24.10 20.60 20.80 23.20 22.90 23.30 FEB 24.40 23.00 22.70 23.00 22.10 19.30 20.10 24.20 22.30 24.80 MAR 25.50 24.00 22.70 23.10 20.80 20.10 20.80 25.90 22.30 24.90 APR 26.40 24.10 22.60 23.30 22.00 19.30 21.60 25.10 22.90 25.20 MAY 26.70 24.20 21.40 23.40 21.10 18.70 23.20 24.60 23.70 25.00 JUN 25.80 23.50 21.00 22.90 21.50 18.90 24.30 24.00 24.20 25.30 JUL 25.60 23.10 20.50 23.30 23.20 20.70 23.90 23.40 25.00 26.00 AUG 25.40 22.10 22.20 24.80 23.10 21.90 24.00 24.20 25.10 25.70 SEP 25.10 22.00 22.10 25.10 22.00 22.60 23.60 24.10 24.90 26.00 OCT 23.40 21.80 22.10 25.20 21.90 22.10 23.00 23.50 24.00 25.20 NOV 22.40 22.10 22.30 25.50 21.10 21.30 22.10 22.20 23.20 25.30 DEC 21.80 23.00 22.70 24.50 19.00 20.50 22.90 21.90 23.30 25.20 MKT YR AVG 24.70 22.90 22.10 24.00 21.80 20.50 22.60 23.70 23.70 25.20 PRICE --------------------------------------------------------------------------- 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 --------------------------------------------------------------------------- JAN 25.30 27.10 26.40 32.60 38.00 44.50 30.60 35.50 34.30 40.70 FEB 25.50 28.00 30.00 33.20 41.40 44.00 28.90 35.90 33.80 42.40 MAR 26.90 30.10 29.80 33.10 44.10 41.80 30.60 33.70 34.80 46.60 APR 28.10 29.80 30.20 32.50 43.10 39.50 35.50 40.00 37.00 49.30 MAY 31.20 29.70 31.50 34.50 44.50 38.00 41.20 37.40 39.80 53.70 JUN 32.00 29.40 30.70 36.20 44.80 34.10 42.70 37.30 36.80 54.60 JUL 30.50 29.90 31.00 36.40 47.20 38.30 41.10 34.60 38.50 53.30 AUG 28.80 28.20 31.10 34.70 53.20 41.80 37.50 34.10 37.90 49.50 SEP 27.70 28.10 30.70 34.30 47.40 38.00 40.80 34.70 38.00 54.10 OCT 26.10 27.20 30.00 34.00 41.60 35.70 38.50 35.30 39.00 53.70 NOV 16.30 25.70 31.50 32.20 39.50 32.20 37.10 33.50 38.10 55.90 DEC 26.10 24.50 30.60 34.10 35.30 30.10 36.60 34.90 39.10 53.60 MKT YR AVG 27.80 28.20 30.30 34.00 42.80 38.10 36.80 35.50 37.20 50.90 PRICE --------------------------------------------------------------------------- 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 --------------------------------------------------------------------------- JAN 59.40 65.60 60.00 52.50 55.10 56.40 57.20 54.00 56.50 65.70 FEB 62.80 65.80 59.00 54.00 58.10 58.10 58.90 51.90 58.50 65.90 MAR 69.90 64.60 57.60 58.40 60.10 61.30 56.30 52.30 59.40 68.70 APR 71.70 64.90 60.20 60.20 62.20 60.40 56.10 50.70 63.40 70.30 MAY 70.80 67.20 59.80 63.80 61.10 56.80 56.10 51.90 64.50 70.40 JUN 68.40 63.90 62.20 62.70 61.10 57.80 54.80 51.20 64.70 67.20 JUL 64.70 66.50 59.90 59.80 57.20 57.70 50.60 53.80 63.20 63.30 AUG 62.60 68.60 60.00 59.50 56.10 54.30 49.90 55.60 61.90 65.10 SEP 67.10 67.00 59.80 57.10 54.10 54.30 49.10 56.30 63.40 67.10 OCT 65.60 65.10 56.60 54.20 52.90 52.90 54.10 56.20 63.40 67.30 NOV 64.60 63.40 55.00 53.90 52.40 52.80 56.40 56.30 61.50 67.80 DEC 63.80 61.70 51.20 53.30 54.50 56.50 54.60 54.10 62.00 69.10 MKT YR AVG 65.80 65.30 58.20 57.20 57.00 56.80 54.50 53.70 61.80 67.30 PRICE PRICE --------------------------------------------------------------------------- 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 --------------------------------------------------------------------------- JAN 71.30 75.00 81.40 67.10 73.90 67.50 63.80 56.40 59.20 62.30 FEB 71.90 74.70 78.60 70.50 74.40 68.50 67.40 57.60 63.00 60.70 MAR 72.40 74.70 77.00 70.20 75.40 71.40 66.90 57.60 66.30 60.00 APR 71.10 75.10 77.30 71.20 75.20 71.30 62.70 55.60 67.70 61.90 MAY 71.10 75.60 74.80 70.70 75.70 68.60 60.10 54.20 65.00 63.80 JUN 69.20 74.60 72.70 69.00 74.30 62.70 60.00 57.10 65.50 63.00 JUL 68.30 74.90 71.00 68.20 68.50 59.90 59.40 58.50 64.20 57.70 AUG 70.40 76.10 66.50 69.70 70.80 64.20 59.30 60.70 65.80 58.00 SEP 68.20 75.90 66.30 69.90 69.80 62.20 58.00 64.00 65.30 56.70 OCT 68.70 76.80 67.30 69.50 66.70 60.70 58.70 64.70 65.40 57.30 NOV 71.20 78.10 63.90 69.70 67.20 62.40 59.00 64.00 67.00 59.20 DEC 72.50 78.80 65.50 69.90 67.70 62.50 59.10 61.40 64.60 57.80 MKT YR AVG 70.60 75.90 72.30 69.60 71.60 65.30 61.10 58.80 62.00 59.80 PRICE --------------------------------------------------------------------------- 1999 2000 2001 2002 2003 2004 2005* 2006 2007 2008 --------------------------------------------------------------------------- JAN 58.80 68.20 76.20 74.70 76.00 89.70 94.60 FEB 59.30 68.60 79.10 74.30 73.80 83.50 93.90 MAR 61.70 69.20 79.00 68.50 73.20 87.50 94.20 APR 62.90 72.20 80.90 65.40 75.30 88.10 95.60 MAY 62.30 66.50 75.70 63.80 75.70 88.30 92.80 JUN 63.40 71.70 74.00 62.40 75.10 86.90 84.30 JUL 62.40 69.20 71.60 60.10 73.30 83.20 77.50 AUG 62.90 67.40 70.20 61.60 78.90 87.30 77.00 SEP 63.80 65.90 67.70 60.60 85.90 86.00 88.10 OCT 64.90 67.50 67.00 62.20 96.80 84.60 91.10 NOV 65.50 71.00 66.40 66.50 99.90 87.30 DEC 66.20 73.00 65.50 71.00 92.20 90.90 MKT YR AVG 62.80 69.10 72.80 65.80 81.60 86.80 PRICE --------------------------------------------------------------------------- *Preliminary. ** Mid-month price