WEEKLY LIVESTOCK MARKET REVIEW CAN/US $ Feb25 101.95 Feb18 101.73 Feb26/10 95.00 BANK RATE % Feb22 1.25 Feb15 1.25 Feb23/10 .50 CATTLE SLAUGHTER WEEK END Feb19/11(prel) Feb12/11(prel) Feb20/10 CANADA 54,906 56,171 55,184 EAST 14,982 14,975 12,819 WEST 39,924 41,196 42,365 ALBERTA N/A N/A 42,223 WEEK END Feb26/11(est) Feb19/11(est) Feb27/10 US 642,000 651,000 635,500 CANADIAN CATTLE GRADES WEEK END Feb19/11 Feb12/11 Feb20/10 A 41,003 43,684 42,820 B 326 327 415 D 5,775 4,759 4,816 E 319 275 252 A GRADE MARBLING (%) WEEK END Feb19/11 Feb12/11 Feb20/10 A 1.7% 1.8% 1.7% AA 38.4% 41.0% 41.2% AAA 59.8% 57.2% 57.2% CANADIAN CATTLE CLASSES WEEK END Feb19/11(prel) Feb12/11(prel) Feb20/10 STEERS 22,962 26,496 22,565 HEIFERS 19,228 18,262 21,442 COWS 12,327 11,053 10,871 BULLS 389 360 306 CALVES 4,597 4,727 4,866 CATTLE FUTURES - US $/CWT - CLOSE Feb25/2011 MTH LIVE CHG MTH FEEDER CHG FEB 112.03 +0.98 MAR 129.82 -0.25 APR 114.10 -1.05 APR 131.63 -0.13 JUN 115.85 -0.33 MAY 132.43 +0.18 AUG 117.53 -0.05 AUG 132.57 -0.23 OCT 120.40 +0.35 SEP 132.10 +0.10 DEC 120.25 +0.05 OCT 131.80 +0.20 WEEK END Feb25/11 Feb18/11 Feb26/10 US FSP - US$/CWT 128.60 128.78 101.36 CATTLE INDICATORS BY PROD VAL Feb18/11 Feb11/11 Feb19/10 EAST-$/HEAD 106.00 106.00 91.00 WEST-$/HEAD N/A N/A N/A US-US$/CWT 12.90 12.83 9.68 CURRENTNESS Feb19/11 Feb12/11 Feb20/10 WEST-A1% N/A% 46.6% 41.5% CAN-A1% N/A% 50.7% 44.1% FD:STR RATIO Feb18/11 Feb11/11 Feb19/10 ALTA BARLEY 24.9 25.2 25.4 Feb19/11 Feb12/11 Feb20/10 US CORN 15.5 15.8 26.6 AVG CARCASS WT Feb19/11 Feb12/11 Feb20/10 WEST STR-LBS N/A 831.0 861.0 CAN STR-LBS N/A 846.0 867.0 US CATTLE-LBS 781.0 782.0 774.0 LATEST CATTLE PRICES - $/CWT WEEK END Feb25/11 Feb18/11 Feb26/10 ALBERTA RAILGRADE SALES STR-LOW 174.55 176.50 140.00 STR-HIGH 176.85 179.85 143.85 HFR-LOW 175.86 177.85 140.00 HFR-HIGH 176.85 179.50 143.85 ALBERTA DIRECT SALES STR-RANGE 103.00-103.00 N/A-N/A 82.25-85.00 AVERAGE N/A 105.55 84.05 VOLUME N/A 6,745 8,863 HFR-RANGE N/A-N/A 104.50-104.50 83.25-84.25 AVERAGE N/A 104.86 84.67 VOLUME N/A 5,415 6,690 OPEN MARKET - $/CWT Feb25/11 Feb18/11 Feb26/10 STEERS - A1,2 AND CHOICE 2-4 ONTARIO N/A-N/A 98.87-109.67 83.10-90.54 NEBRASKA* 110.00-112.50 109.00-111.00 88.75-91.50 HEIFERS - A1,2 AND CHOICE 2-4 ONTARIO N/A-N/A 95.08-106.50 81.84-89.02 NEBRASKA* 110.00-112.50 108.00-111.00 88.00-91.50 COWS - D1,2 CLYDE 63.00-76.00 63.00-76.00 42.00-52.00 SIOUX F* 77.00 74.00 57.00 800-900 LB FEEDER STEERS CLYDE 117.00-127.50 117.00-127.25 92.00-97.50 PONOKA 115.00-125.50 119.00-125.50 92.00-100.00 STRATHMOR N/A-N/A 115.00-131.00 88.00-106.00 ONTARIO N/A-N/A 118.00-130.00 87.00-98.00 700-800 LB FEEDER STEERS CLYDE 125.00-135.50 125.00-134.25 95.00-102.25 PONOKA 123.00-135.00 126.00-134.00 95.00-109.50 STRATHMOR N/A-N/A 115.00-139.00 90.00-109.00 C.NEBRAS* N/A-N/A 125.00-140.25 95.25-113.00 600-700 LB FEEDER STEERS CLYDE 135.00-150.50 135.00-146.50 105.00-114.50 PONOKA 135.00-151.00 132.00-151.00 103.00-115.00 STRATHMOR N/A-N/A 130.00-150.00 98.00-119.00 500-600 LB FEEDER STEERS CLYDE 155.00-171.00 155.00-170.00 112.00-127.00 PONOKA 150.00-175.00 149.00-171.00 112.00-122.00 STRATHMOR N/A-N/A 135.00-164.00 100.00-129.00 ONTARIO N/A-N/A 136.00-163.00 107.00-127.00 700-800 LB FEEDER HEIFERS CLYDE 110.00-129.50 110.00-126.00 90.00-97.25 PONOKA 115.00-125.00 118.00-124.00 93.00-98.25 STRATHMOR N/A-N/A 110.00-127.00 80.00-99.00 500-600 LB FEEDER HEIFERS CLYDE 130.00-154.50 130.00-152.50 94.00-105.50 PONOKA 133.00-148.00 138.00-150.00 97.00-108.00 STRATHMOR N/A-N/A 120.00-144.00 84.00-108.00 NOTE: * denotes price in US Dollars PRELIM LIVE ANIMAL TRADE - WEEK ENDING Feb04/2011 CATTLE FROM US TO US TO US TO US SLTR SLTR FDR HOGS CANADA 0 12,358 1,114 20,859 EAST 0 3,142 33 9,602 WEST 0 9,216 1,081 11,257 BEEF WHOLESALE PRICES - $/CWT WEEK ENDING Feb25/11 Feb18/11 Feb26/10 CALGARY-STRS N/A-N/A N/A-N/A N/A-N/A CDA CUTOUT AAA N/A N/A 151.63 CDA CUTOUT AA/A N/A N/A 153.95 US BOXED BEEF CUTOUT - US $/CWT WEEK END Feb25/11 Feb18/11 Feb26/10 CHOICE 6-900 169.90 167.75 149.62 SELECT 6-900 169.45 167.48 148.84 HOG SLAUGHTER WEEK END Feb19/11(prel) Feb12/11(prel) Feb20/10 CANADA 418,758 419,222 418,996 EAST 260,760 252,619 260,901 WEST 157,998 166,603 158,095 ALBERTA 52,011 51,585 51,916 WEEK END Feb26/11(est) Feb19/11(est) Feb27/10 US 2,108,000 2,089,000 2,158,500 HOG CASH PRICES - INDEX 100 - $/KG WEEK END Feb24/11 Feb17/11 Feb25/10 ALTA AVG N/A 1.480 1.254 ONT AVG N/A 1.691 1.285 INTERIOR IOWA MINNESOTA HOG CASH PRICES WEEK END Feb25/11 Feb18/11 Feb26/10 US $/CWT 81.66 79.36 69.97 CAN EQVT $/KG 1.528 1.488 1.405 US PORK CARCASS CUTOUT US $/CWT N/A 89.51 72.16 HOG FUTURES - US$/CWT CAN/US$ CLOSE Feb25/2011 MTH LEAN CHG MTH FUTURES CHG APR 90.20 -2.08 MAR 1.0221 +0.0091 MAY 99.05 -1.50 JUN 1.0200 +0.0091 JUN 101.45 -1.33 SEP 1.0172 +0.0092 JUL 100.78 -0.63 DEC 1.0143 +0.0095 AUG 100.00 -0.05 MAR 1.0114 +0.0098 OCT 88.70 -0.17 JUN 1.0085 +0.0101 HOG INDICATORS WEEK END Feb19/11 Feb12/11 Feb20/10 AV DRSD WT US-LBS 208.0 209.0 203.0 FD:HOG RATIO Feb18/11Feb11/11Feb19/10 US CORN 11.2 12.9 18.7 Feb18/11 Feb11/11 Feb19/10 ALTA BARLEY 12.7 12.4 14.0 SHEEP AND LAMB PRICES - Most Recent Sale to Feb24/2011 MARKET LAMBS - FEEDER LAMBS SHEEP (95-109 LBS) (<80 LBS) (ALL WTS.) ONTARIO 195.26-208.90 210.08-291.40 N/A TEXAS (US$) N/A N/A 91.50$/CWT MARKET LAMB PRICES - Most Recent Sale to Feb17/2011 CENTRAL ALTA 151.68-159.84 (INNISFAIL)