AVERAGE PRICES RECEIVED BY IOWA FARMERS HOGS - DOLLARS PER CWT. (MARKET YEAR IS DECEMBER-NOVEMBER) --------------------------------------------------------------------------- 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 --------------------------------------------------------------------------- DEC 1/ 17.60 25.50 14.80 19.80 29.70 37.50 38.60 46.50 37.40 42.80 JAN 18.60 26.30 15.10 22.50 31.10 39.70 38.20 47.30 38.10 44.30 FEB 19.80 27.60 19.60 26.10 35.20 39.20 39.00 48.20 39.70 47.80 MAR 20.00 25.60 17.00 23.00 38.70 35.00 38.90 45.60 37.30 46.40 APR 19.70 23.70 16.00 22.40 35.50 30.30 39.20 47.60 36.40 45.30 MAY 22.70 22.50 17.00 24.90 34.50 26.00 45.90 47.60 41.00 48.50 JUN 23.90 22.70 17.40 25.30 37.40 22.40 46.90 49.40 42.10 47.30 JUL 24.80 23.80 19.10 27.60 41.00 34.90 53.90 48.10 45.20 45.70 AUG 26.40 21.80 18.50 28.50 56.80 36.60 56.80 42.60 42.70 47.40 SEP 25.20 19.90 18.10 28.40 44.10 34.00 58.60 38.90 40.40 48.60 OCT 25.00 17.60 19.80 27.30 40.80 37.30 57.20 32.80 39.90 51.10 NOV 25.10 15.00 18.70 26.80 40.20 36.80 48.50 30.50 37.70 47.80 MKT YR AVG 22.20 22.60 17.50 25.30 38.60 34.10 46.20 43.00 39.60 47.00 PRICE --------------------------------------------------------------------------- 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 --------------------------------------------------------------------------- DEC 1/ 47.80 36.70 44.30 39.10 53.40 44.00 49.20 45.20 51.00 40.80 JAN 51.00 36.60 41.10 43.30 55.40 48.80 48.10 44.20 47.10 43.10 FEB 52.80 36.80 41.20 48.00 55.70 45.30 48.70 42.80 48.90 46.80 MAR 48.00 33.80 39.00 48.50 50.20 45.80 43.90 40.70 47.60 43.10 APR 44.10 28.10 39.00 50.90 46.90 47.70 41.50 39.50 51.00 42.70 MAY 42.90 28.20 40.50 56.30 45.70 47.30 41.30 46.10 54.40 46.10 JUN 39.10 32.30 47.00 56.60 43.60 48.30 44.60 52.30 59.70 48.80 JUL 37.70 40.90 49.20 56.60 42.90 51.60 46.20 59.30 60.70 45.40 AUG 36.10 45.80 49.20 60.40 46.60 50.30 42.90 62.50 59.40 45.70 SEP 36.90 46.20 48.50 60.90 43.80 46.30 39.50 59.20 55.80 42.10 OCT 33.90 47.50 44.90 55.60 40.20 44.10 43.40 53.50 50.10 39.70 NOV 33.70 45.90 41.00 52.20 37.30 47.00 43.10 53.20 41.50 36.90 MKT YR AVG 41.60 38.00 43.80 51.90 46.70 46.80 44.20 49.50 51.90 43.20 PRICE --------------------------------------------------------------------------- 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 --------------------------------------------------------------------------- DEC 1/ 40.10 48.40 49.00 39.40 42.80 41.00 30.60 44.10 57.00 43.60 JAN 41.40 47.90 51.30 37.20 41.70 43.90 37.50 43.30 55.30 37.70 FEB 41.00 48.70 53.70 40.50 44.90 48.70 40.20 47.70 55.80 37.40 MAR 39.70 51.70 52.30 39.60 47.50 45.20 38.90 50.00 51.10 36.50 APR 37.50 54.10 51.40 41.40 46.10 43.40 36.80 50.90 54.90 37.10 MAY 42.60 62.00 55.20 45.60 47.50 43.50 37.90 58.10 60.40 44.10 JUN 45.90 61.50 55.90 47.50 48.90 43.30 43.10 58.50 59.60 43.80 JUL 47.10 62.30 55.50 45.90 46.60 42.90 47.60 60.50 61.70 38.20 AUG 46.60 56.00 52.40 44.60 48.40 42.70 49.30 61.70 58.00 37.20 SEP 43.90 55.00 47.10 43.20 48.50 36.50 49.60 56.10 52.30 31.70 OCT 47.30 58.40 44.90 42.60 47.60 32.70 47.00 57.70 49.20 29.80 NOV 45.80 51.60 38.70 42.10 43.50 28.90 40.90 55.60 46.90 20.80 MKT YR AVG 43.20 54.70 50.50 42.50 46.10 40.80 41.40 53.40 54.90 36.30 PRICE --------------------------------------------------------------------------- 1999 2000 2001 2002 2003 2004 2005* 2006 2007 2008 --------------------------------------------------------------------------- DEC 1/ 15.00 38.10 41.40 34.00 30.40 32.50 54.10 JAN 28.40 38.40 39.20 37.60 34.60 34.40 54.70 FEB 29.60 41.90 40.90 37.90 34.80 40.40 52.00 MAR 31.20 43.60 48.10 36.60 34.90 48.60 52.80 APR 31.60 49.20 49.20 33.30 34.90 48.80 51.50 MAY 38.80 50.60 52.10 33.40 40.10 59.20 55.90 JUN 36.40 51.10 53.80 36.50 43.20 58.50 53.10 JUL 34.10 50.60 53.40 41.40 41.30 59.00 51.60 AUG 38.30 46.80 52.90 32.60 36.20 57.30 51.80 SEP 35.80 43.60 47.60 28.50 38.70 57.20 50.70 OCT 35.70 43.60 43.00 32.40 34.80 53.20 51.30 NOV 34.80 39.80 37.20 27.80 34.00 57.70 MK YR AVG 32.30 44.50 46.30 34.20 36.40 49.90 PRICE --------------------------------------------------------------------------- 1/December of previous year. *Preliminary. **Mid-month price.