USPremiumBeefannouncesrecor.cfm U.S. Premium Beef announces record cash distribution
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U.S. Premium Beef announces record cash distribution

U.S. Premium Beef, LLC (USPB) announced the company has paid its unitholders a record cash distribution of $32.5 million, or $44.25 per linked unit, from calendar (tax) year 2008 earnings, which were also a record at $81.4 million.

USPB is the majority owner of National Beef Packing Co., LLC, (NBP) the nation's fourth largest beef processor.

"U.S. Premium Beef's financial performance during calendar year 2008 was extraordinary in light of the marketing environment in which beef processing companies operated in during the first quarter of the year," Steve Hunt, USPB CEO, said. "That is a credit to our unique producer-owned integrated system, combined with our processing company's excellent reputation in the market for delivering consistently high quality beef products.

"Overall, USPB's financial performance for producers who owned and or marketed cattle through the company during fiscal year 2008 was impressive," Hunt added. "In addition to the record cash distribution that our unitholders received, USPB producers earned a record $19.8 million in grid premiums from our value-based grid during fiscal year 2008. On a per head basis, USPB's grid premiums were also record high at $26.89 per head delivered.

"Overall, USPB's financial performance for producers who owned and or marketed cattle through the company during fiscal year 2008 was impressive," Hunt added. "In addition to the record cash distribution that our unitholders received, USPB producers earned a record $19.8 million in grid premiums from our value-based grid during fiscal year 2008. On a per head basis, USPB's grid premiums were also record high at $26.89 per head delivered.

"Our customers worldwide are recognizing the commitment USPB's producer-owners have to deliver the highest quality, safest product possible," Hunt said. "These producers have a direct financial incentive to provide our unique integrated system with the best beef possible. As a result, our processing company can more consistently provide consumers with beef products that assure a quality eating experience each and every time they buy our brands. This integrated system contributed significantly to these financial results.



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