ONTARIO INDUSTRY FEEDER PIG FORMULA PRICE         September 3, 2010     Feeder Pig Purchase - Month Sept Oct Nov Dec Jan Feb Feeder Pig Purchase - Year 2010 2010 2010 2010 2011 2011     Market Hog Sale - Month Dec Jan Feb Mar Apr May Market Hog Sale - Year 2010 2011 2011 2011 2011 2011             Ontario Pork Forward Contract Price ($/100 kg dress, index 100) $149.02 $149.02 $150.72 $151.04 $157.54 $162.23     Estimated Basis   10-Year Average ($/100 kg dress, index 100) -$18.25 -$7.66 -$9.47 -$6.11 -$14.28 -$2.43 Standard Deviation ($/100 kg dress, index 100) $6.85 $6.05 $6.71 $6.44 $9.07 $7.40 Net Basis ($/100 kg dress, index 100) -$25.10 -$13.71 -$16.18 -$12.55 -$23.35 -$9.83     Expected Market Hog Price ($/100 kg dress, index 100) $123.92 $135.31 $134.54 $138.49 $134.19 $152.40     Expected Revenue ($/head) $125.35 $136.87 $136.09 $140.09 $135.74 $154.16     Estimated Feed Costs ($/head) $67.98 $67.98 $67.98 $67.98 $67.98 $67.98     Estimated Margin After Feed Costs ($/head) $57.37 $68.89 $68.11 $72.10 $67.75 $86.17     Feeder Pig Price As % Of Margin (%) 64.0% 64.0% 64.0% 64.0% 64.0% 64.0%     Feeder Pig Price ($/head) $36.71 $44.09 $43.59 $46.15 $43.36 $55.15     Feeder Pig Price ($/kg) $1.47 $1.76 $1.74 $1.85 $1.73 $2.21 Feeder Pig Price ($/lb) $0.67 $0.80 $0.79 $0.84 $0.79 $1.00     Feeder Pig Price (With 3% Expected Loss) ($/head) $34.28 $41.37 $40.89 $43.35 $40.68 $52.01     Feeder Pig Price (With 3% Expected Loss) ($/kg) $1.37 $1.65 $1.64 $1.73 $1.63 $2.08 Feeder Pig Price (With 3% Expected Loss) ($/lb) $0.62 $0.75 $0.74 $0.79 $0.74 $0.94