KANSAS CITY, Mo. U.S.
Premium Beef, Ltd. (USPB) con
ducted its first annual stockholder
meeting on May 20 in Garden
City, Kan.
USPB stockholders heard an
update on the company’s year-to
date performance and also elected
the company’s first permanent
board of directors.
“Since December 1, when
USPB began operations, we’ve
continued to improve both our
program and our cattle as our
members have received individual
carcass data on their cattle,” Steve
Hunt, USPB CEO, told attendees.
During that time USPB bought
more than $133 million worth of
cattle and paid out more than $1
million in premiums on approxi
mately 195,000 head of cattle.
“In spite of the market chal
lenges, our program has worked as
we hoped and believed it would,”
Hunt said. “In the coming months
and years, as the market condi
tions return to more normal levels
and USPB members breed, buy,
and produce cattle designed for
our grid and consumer markets,
our program and premiums paid
out will grow.”
In the first six months of opera
tion, USPB’s interim board of
directors made several improve
ments designed to encourage
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Premium Beef Conducts First Stockholder Meeting
members to produce the right
quality of cattle to earn the highest
return from those cattle. “Specifi
cally, we increased our transporta
tion credit from $.50 to $.55 per
cwt, introduced a forward con
tract, removed the discounts on
yield grade 1 and 2 carcasses, low
ered the heavy and light carcass
discounts, and developed an un
branded hides premium,” Hunt
said.
“We are encouraged that our
members have earned significant
premiums on a quality-based grid
in spite of the narrow
lect spread the industry has faced
for most of this year,” he said.
“Tracking our premiums on a
weekly basis has been encourag
ing. We’ve seoi significant im
provement since we began opera
tions on December 1, which we
believe is due to producers getting
individual animal carcass data (at
no charge) on their cattle and mak
ing changes based on that
knowledge.
“In fact, our best week of pre
miums paid on all USPB cattle
was in early May when our pre
miums averaged $17.23 per
head,” Hunt noted. “During that
week the top 25 percent of our cat
tle earned $34.45 per head over
the cash market and the middle 50
percent earned an $18.69 per head
premium to cash. Overall the top
25 percent of our cattle have aver
aged $24.21 per head over the
cash market and the middle 50
percent were $7.28 per head over
cash.
“It’s important to remember
that we’re stil in the infancy of our
FREDERICK, Md. A
Frederick County Pasture Walk is
scheduled Wednesday, June 17
from 10 a.m.-noon at Holterholm
Farms on Holier Road.
Pasture walks show livestock
producers how rotational grazing
can increase agricultural profit
ability. Discussions will include
‘The Grazing Wedge” and the
economics of rotational grazing
systems, as well as plant growth
information for the 1998 season
will also be available.
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Elizabethtown, PA
717-367-8867
Pasture Walk June 17
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development process,” Hunt re
minded USPB stockholders. “It’s
easy to overlook what we have in
USPB. We own a successful beef
company with branded labels in
place. We market our cattle on a
competitive grid when they’re
ready and receive carcass data at
no charge. We get a transportation
This is the fourth year of graz
ing for Holterholm Farms. The
dairy herd consists of 57 Hol
steins, 25 Jerseys, and two cross
breeds. The entire 200-acre farm
is seeded to permanent pasture.
The herd is milked seasonally,
with the dry period running from
late December until mid February.
A variety of perennial grasses is
established, including orchard
grass, fescue, ryegrass, prairie
grass, and reed canary grass. In ad
credit to get them to the plants.
And we have a staff in place to
help improve the quality of cattle
you deliver to USPB. There will
be more exciting developments in
the coming year which we believe
will more consistently reward
USPB members for producing
higher quality beef.”
dition, white clover, red clover, al
falfa, and chicory are used across
the farm. Water is available in
every paddock and an all-weather
cow lane was installed in 1996 us
ing several different geotextile
fabrics.
To reach the farm from Jeffer
son, Md. go east on Jefferson Pike
and make a left onto Holler Road.
Go two miles to the farm on the
right.
From Middletown, Maryland
go south on Rl 17. Take an im
mediate left onto Franklin Street
(this becomes Holter Road). Go
three miles to the farm on the left
Look for pasture walk signs.
For more information, contact
Stanley W. Fultz, extension
agent, dairy science at (301)
694-1594 ext. 3578 or sf2B@u
mail.umd.edu.
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