1. 2015 Performance Benchmarking Alan Childs | Brian Parker June 16, 2016
Introduce Alan and self if moderator does not do so.
Set the stage to hold all questions to the end
Offer for those that want the presentation to come up after and give contact information instead of coming up and taking pictures
Innovative. Precise. Secure.

2. Agenda MetaFarms Overview Benchmarking and the Data Sow Performance
Closeout Performance – Nursery
Closeout Performance – Finishing
Closeout Performance – Wean to Finish
Market Sales
Briefly touch upon what will be covered at a high level and move on

3. About MetaFarms Founded in 2000 Headquarters in Burnsville, MN
Diverse employee backgrounds that understand the business
Integrated Software Production Platform (SaaS)
Sow, Feed, Finish, Sales, Assurance
MetaFarms Analytics, Research & Technology (MART) platform
Benchmarking, Analytics, Innovation Services
- Employee base: deep understanding of swine production combined with folks that understand the software business
- Production platform: full production platform from Sow to Finish and recently released our first Compliance component with Assurance to perform Audits, Assessments, Checklists as well as help streamline the VFD process that I’m sure many are trying to get your arms wrapped around.
MART: MART is our MetaFarms Analytic, Research and Technology Platform

4. About MetaFarms Multi Species – Swine, Poultry
15 million active finish pigs on feed and over 725,000 active sows
Global customer base – both large and small
vXchnge: a colocation services provider, with its secure and fully monitored data center
Sungard Availability Services Hybrid Cloud Solutions for its disaster recovery

5. MetaFarms Proven Platform
CUMULATIVE HARVEST DATA ON METAFARMS PLATFORM
Some of MetaFarms Swine Sales Data Partners (15+):
Cargill/Excel
Farmland Foods
Hormel Foods
HyLife Foods
Indiana Packers Corp (IPC)
JBS Swift Packer
Maple Leaf Foods (Canada)
Morrell
Olymel LP (Canada)
PIP/Lynch
Smithfield
Seaboard Foods
Swift & Co.
Triumph Foods
Tyson Fresh Meats
35+ Feed Mill Interfaces
Highlight the growth we seen and touch upon the relationships with Packers and Feed Mill interfaces…streamlining the process and reducing data entry mistakes
Diverse, and global customer base that includes some of the largest protein businesses in the world as well as some of the smallest. 15 million active finish pigs on feed and over 725,000 active sows.

6. Benchmarking and the Data
Unbiased Data – includes all sites on the MetaFarms Production Platform
Numbers in Isolation
Performance measurements (including KPIs) mean very little in and of themselves without a basis of comparison. You can’t just look at numbers in isolation; rather, they need to be compared to an objective standard.
Benchmarking
Identify Opportunities, Focus on Areas, Profit/Loss, Small Improvements – Big Impact
Numbers in Isolation
The concept of benchmarking goes back to the idea that performance measurements (including KPIs) mean very little in and of themselves without a basis of comparison. You can’t just look at numbers in isolation; rather, they need to be compared to (or benchmarked against) an objective standard.
Identify Opportunities, Multi-Purpose Indicators, Focus on Areas, Profit/Loss, Small Improvements – Big Impact, Look at Potential

7. MetaFarms Sow

8. Over The Years
Trend here is to show the total born increases and weaned pigs trends. Piglet mortality bumped up in 2014 from PED but rebounded back down to 12.6% in 2015.

9. Sow Farm Performance 2013 2014 2015 No. Sows 615,113 692,315 701,200
Pigs weaned / mated female / yr (PWMFY)
24.4
24.0
24.9
Lb weaned / sow / yr
338
334
339
Farrowing Rate
85.9%
85.2%
84.1%
Average total born
13.4
13.5
13.6
Birth loss %
9.4%
9.6%
Pigs out the door has rebounded from 2014 PED year
Total born steady – Farrowing rate drop maybe new farms coming on our system

10. Sow Farm Performance 2013 2014 2015 Average live born 12.1 12.2 12.4
Pre-wean mortality %
13.5%
14.7%
12.6%
Pigs weaned / sow
10.2
10.4
Average wean weight (pig)
13.6
13.4
Pigs weaned per sow lifetime
42.2
43.4
39.7
Sow Deaths / Destroyed %
8.2%
9.3%
10.4%
Pigs weaned per sow gaining again
Wean weight is less but again maybe new farms coming on our system
Avg live born due to genetics, farrowing care

11. Sow Farm Performance Sow Herd Size <1000 1,000-1,999 2,000-2,999
3,000-3,999
4,000-4,999
5,000+
No. Sows
56,150
130,604
177,236
87,818
113,533
135,660
Pigs weaned / mated female / yr (PWMFY)
22.3
24.3
24.5
25.5
24.7
26.7
Total Productivity IndexTM (mated)
44.3
47.0
48.9
47.4
51.3
Farrowing Rate
80.5%
83.6%
83.0%
85.3%
84.8%
86.3%
Average Total Born
13.5
13.7
13.6
Birth loss %
10.3%
10.2%
9.4%
9.5%
10.6%
7.5%
Average Live Born
12.1
12.3
12.4
12.7
Pre-Wean Mortality %
12.6%
13.3%
12.0%
13.1%
13.9%
12.2%
Pigs Weaned / sow
10.4
10.5
10.3
10.1
10.7
Average wean weight (pig)
13.1
14.2
14.6
12.5
Pigs weaned per sow lifetime
41.8
37.7
38.3
43.6
42.5
Sow Death / Destroy %
9.2%
10.0%
11.3%
11.0%
11.1%
New item we did for our customers this year was herd size performance

12. Sow Farm Performance Herd Size
Shows difference of small vs large herd size
Herd Size

13. Sow Farms ranked on Pigs Weaned / Mated Female / Year
Sow Farm Performance
Sow Farms ranked on Pigs Weaned / Mated Female / Year
Bottom 10%
Bottom 33%
Average
Top 33%
Top 10%
Pigs weaned / mated female / yr (PWMFY)
16.9
21.1
24.9
27.3
28.9
Total Productivity IndexTM (mated)
32.5
40.6
47.8
52.5
55.5
lb weaned / sow / year
220.5
264.7
330.0
356.1
370.6
Farrowing Rate
82.9%
85.3%
86.7%
88.0%
89.7%
Average Total Born
12.7
13.2
13.6
13.9
14.1
Birth loss %
11.6%
11.2%
9.4%
8.0%
7.2%
Average Live Born
11.3
11.7
12.4
12.8
13.0
Pre-Wean Mortality %
15.1%
13.2%
12.6%
12.0%
Pigs Weaned / sow
9.4
9.8
10.4
10.8
11.1
Average wean weight (pig)
14.5
13.8
13.4
13.1
Pigs weaned per sow lifetime
34.9
34.1
39.7
40.8
Sow Death / Destroy %
11.9%
10.4%
9.0%
8.4%
Ranked so rows are correct for %
Farrowing rate difference
Lower birth loss
Lower piglet mortality

14. Sow Farm Ranked on PWMFY
Farrowing rate difference
Lower birth loss
Lower piglet mortality
Bottom 10% Bottom 33% Average Top 33% Top 10%

15. Sow Farm Percentiles 10% 20% 30% 40% 50% 60% 70% 80% 90% 20.1 22.1
Pigs weaned / mated female / yr (PWMFY)
20.1
22.1
23.2
24.1
24.8
25.4
26.0
26.7
27.8
Total Productivity IndexTM (mated)
38.5
42.4
44.6
46.3
47.5
48.8
49.8
51.3
53.4
Weaned Sows bred < 7 days %
76.0%
82.1%
85.1%
87.1%
88.6%
89.6%
90.8%
92.0%
93.9%
Conception Rate (35 days)
86.3%
88.1%
90.0%
91.1%
92.6%
93.3%
94.5%
96.0%
Farrowing Rate
74.8%
78.2%
80.7%
82.0%
83.8%
85.4%
86.7%
88.0%
89.9%
Average Total Born
12.2
12.7
13.1
13.4
13.6
13.8
14.0
14.2
14.5
Birth loss %
13.6%
11.6%
10.6%
10.0%
9.4%
8.8%
8.4%
7.7%
6.8%
Avg Live Born
11.0
11.5
11.8
12.1
12.4
12.6
12.9
Pre-Wean Mortality %
7.2%
9.2%
10.5%
11.8%
12.6%
14.5%
15.3%
16.9%
Pigs Weaned / sow
9.3
9.8
10.1
10.3
10.4
10.6
10.7
10.9
11.2
Average wean weight (pig)
13.2
13.5
14.4
15.0
Sow Mortality
12.9%
10.7%
8.6%
7.8%
6.9%
5.7%
Across not down
Best in each row
Pigs weaned per sow range

16. Sow Farm Percentiles
Pigs weaned per sow
Sow mortality

17. MetaFarms Grow Finish Nursery, Finish and Wean-to-Finish

18. Closeout Performance - Nursery
2013
2014
2015
No. Groups
7,307
6,349
6,907
Started
13,128,104
12,513,662
14,588,575
Started Wt
13.0
12.9
Avg Out Wt w/o Dead Wt
51.9
53.0
54.2
Actual Sqft/Pig
2.8
Lb Feed Per Hd
63.0
65.0
64.7
Feed Cost per Lb Gain Prod
0.3737
0.3431
0.2843
Mortality as % of Pigs In
3.6%
3.1%
Mortality dropped in 2015, feed cost per pound of gain improved significantly
Pounds of feed consumed drop slightly while out weight was up

19. Closeout Performance - Nursery
2013
2014
2015
ADG
0.82
0.84
0.86 FC
1.64
1.62
1.60
Adj FCR*
1.66
1.61
ADFI
1.38
1.42
1.37
Avg DOF
46.7
46.6
47.3
Days to First STD Sale
 --
Avg Feed Cost/Ton
$462.00
$474.00
$355.33
Avg Corn Cost/Bu
$6.57
$4.55
$3.79
Avg DDGS Cost/Ton
$448.00
$174.17
$140.53
Avg SBM Cost/Ton
$243.00
$443.62
$342.14
Daily gain continues to improve
Feed costs continue in growers favor
*Adjusted FCR for Nursery was lb.

20. Nursery – Percentile breakdown
10%
20%
30%
40%
50%
60%
70%
80%
90%
Start Wt
11.7
12.0
12.2
12.6
13.0
13.2
13.6
13.9
14.5
Avg Out Wt w/o Dead Wt
37.8
41.6
45.3
49.0
52.2
55.7
59.6
62.7
67.3
Actual Sqft/Pig
2.4
2.5
2.7
2.8
2.9
3.1
3.2
3.6
lb feed per Hd
38.0
43.8
49.5
55.1
60.8
66.6
73.4
81.2
91.0
Feed Cost per lb gain Prod
0.3889
0.3523
0.3287
0.3105
0.2937
0.2786
0.2630
0.2469
0.2265
Mortality as % of Pigs In
6.0%
4.4%
3.5%
2.9%
2.4%
2.0%
1.6%
1.2%
0.8%
ADG
0.62
0.70
0.76
0.81
0.85
0.88
0.92
0.97
1.02 FC
1.90
1.78
1.70
1.65
1.59
1.55
1.50
1.45
1.36
Adj FCR*
1.95
1.81
1.73
1.67
1.61
1.56
1.51
ADFI
0.99
1.09
1.17
1.25
1.32
1.40
1.48
1.57
1.69
Avg DOF
36.6
39.2
41.4
44.2
46.9
51.0
53.2
55.4
Avg Feed Cost/Ton
471.12
429.70
405.21
386.25
367.34
350.10
335.05
316.34
293.87
Avg Corn Cost/Ton
4.46
4.00
3.91
3.83
3.78
3.70
3.62
3.55
3.47
Avg DDGS Cost/Ton
184.43
175.00
168.00
159.00
148.09
138.22
130.33
122.43
112.00
Avg SBM Cost/Ton
379.64
368.36
358.60
349.00
340.22
331.82
324.00
314.38
304.28
Each row is on its own – read across not down
ADG example .62 our worse, 1.02 our best
Mortality 6% compared to .08%
*Adjusted FCR for Nursery was lb.

21. Nursery – Percentile breakdown
Compare from 10% to 90%
ADG – starting weight has a lot to do with this
Mortality large difference
10% % % % % % % % %

22. Nursery – Starting Weight
Starting Weight in pounds
<10 10 11 12 13 14 15 16
17+
No. Groups 38
228
730
2506
2016
920
265 81 44
Start Wt
9.8
10.6
11.5
12.4
13.5
14.3
15.3
16.4
17.4
Avg Out Wt w/o Dead Wt
47.7
47.1
51.4
53.7
54.9
58.5
56.0
60.2
58.3
Actual Sqft/Pig
2.5
2.7
2.8
2.9
2.6
2.4
lb feed per Hd
59.30
54.33
61.60
64.45
64.55
71.39
64.46
70.30
66.53
Feed Cost per lb gain Prod
0.2270
0.2575
0.2817
0.2805
0.2972
0.2819
0.3038
0.2944
0.2981
Mortality as % of Pigs In
3.2%
3.6%
2.8%
3.1%
3.7%
2.9%
3.8%
2.5%
ADG
0.79
0.76
0.82
0.85
0.87
0.90
0.93 FC
1.59
1.53
1.60
1.65
1.62
1.66
1.67
Adj FCR*
1.61
1.64
ADFI
1.26
1.16
1.31
1.36
1.38
1.48
1.42
1.49
1.56
Avg DOF
47.0
46.8
47.2
47.3
46.9
48.5
45.5
42.7
Avg Feed Cost/Ton
285.46
339.79
362.98
352.36
371.16
336.14
374.52
354.35
357.37
Comparison by starting weight placed in group
You can compare down on this one
ADG impact and ADFI
*Adjusted FCR for Nursery was lb.

23. Nursery – Starting Weight
Lighter start weights slow group development
Starting weight in pounds

24. Nursery – Mortality <1% 1-2% 2-3% 3-4% 4-5% 5-6% 6-7% 7-8% 8-9%
Mortality as % of Pigs In
<1%
1-2%
2-3%
3-4%
4-5%
5-6%
6-7%
7-8%
8-9%
9-10%
>10%
No. Groups
1,017
1,734
1,471
982
604
342
224
122 97 58
201
Start Wt
12.9
12.8
13.0
Avg Out Wt w/o Dead Wt
52.0
53.5
54.9
56.0
56.1
55.0
54.6
52.4
52.7
51.9
Actual Sqft/Pig
2.7
2.8
2.3
2.2
2.1
2.0
2.6
lb feed per Hd
59.99
63.81
65.8
67.82
67.42
66.7
65.57
60.97
63.36
64.14
62.01
Feed Cost per lb gain Prod
0.2745
0.2768
0.2814
0.2851
0.2976
0.3030
0.3110
0.3146
0.3197
0.3140
0.3483
ADG
0.89
0.87
0.86
0.85
0.82
0.80
0.76
0.74
0.72 FC
1.54
1.59
1.60
1.62
1.63
1.66
1.65
1.70
1.82
Adj FCR*
1.58
1.61
1.64
1.73
1.76
1.78
1.86
ADFI
1.37
1.38
1.40
1.39
1.32
1.25
1.26
1.22
Avg DOF
43.9
46.2
47.9
48.7
49.1
49.8
50.4
50.3
49.4
Avg Feed Cost/Ton
353.78
349.78
352.03
353.17
367.91
364.60
370.25
384.30
374.71
369.31
381.47
Med Costs Per Pig
2.58
2.75
3.01
3.15
3.25
3.02
3.08
3.41
3.39
3.84
3.34
Groups with high mortality have lower ADG, worse Feed Conversion, lower ADFI.
Okay to compare down
Daily gain impact, FC
Days of Feed less on lower mortality
*Adjusted FCR for Nursery was lb.

25. Nursery – Mortality <1% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%+
Groups with high mortality have lower ADG, worse Feed Conversion
<1% % % % % % % % % % %+
*Adjusted FCR for Nursery was lb.

26. Closeout Performance - Finishing
2013
2014
2015
No. Groups
8,003
7,874
9,208
Started
14,320,145
14,408,495
16,605,789
Started Wt
52.8
54.6
53.6
Avg Out Wt w/o Dead Wt
271.1
280.9
279.8
Actual Sqft/Pig
7.2
7.3
Market Sales as % of Pigs Out
93.00%
92.90%
92.52%
Lb Feed Per Hd
611.0
640.0
634.9
Feed Cost per Lb Gain Prod $ $ $
Mortality as % of Pigs In
4.4%
4.1%
Mortality again has dropped compared to 2014
Market weight dropped slightly

27. Closeout Performance - Finishing
2013
2014
2015
ADG
1.82
1.85
1.87 FC
2.83
2.87
2.84
Adj FCR*
2.65
2.79
2.78
ADFI
5.16
5.31
5.32
Avg DOF
119.0
121.2
119.6
Days to First (Top Out) Sale
103
106
Avg Feed Cost/Ton
$309.76
$247.72
$208.47
Avg Corn Cost/Bu
$6.78
$4.62
$3.81
Avg DDGS Cost/Ton
$251.28
$188.52
$140.96
Avg SBM Cost/Ton
$451.37
$449.67
$355.19
Average daily gain up
Fewer days on feed to match lower market weights
*Adjusted FCR for Finishing was lb.

28. Finish – Percentile breakdown
10%
20%
30%
40%
50%
60%
70%
80%
90%
Start Wt
33.9
38.5
42.7 47
50.9 55
59.1
62.8
68.6
Avg Out Wt w/o Dead Wt
264.1
269.7
273.8
277.1
280.3
283.3
286.5
290.4
296.5
lb feed per Hd
724.2
697
676
656.5
638.5
621.4
603.5
584
557.7
Feed Cost per lb gain Prod
0.3414
0.3230
0.3117
0.3025
0.2942
0.2863
0.2786
0.2694
0.2576
Mortality as % of Pigs In
8.0%
6.0%
4.9%
4.2%
3.6%
3.1%
2.7%
2.2%
1.6%
ADG
1.68
1.75
1.80
1.84
1.87
1.90
1.94
1.99
2.05 FC
3.15
3.03
2.95
2.89
2.83
2.77
2.71
2.64
2.54
Adj FCR*
3.09
2.97
2.72
2.66
2.58
2.49
ADFI
4.60
4.84
5.02
5.17
5.30
5.43
5.57
5.73
5.98
Avg DOF
139.0
132.7
128.5
124.8
121.0
117.3
113.9
110.3
105.9
Avg Feed Cost/Ton
244.11
231.46
222.18
215.27
210.15
204.96
199.28
193.33
186.42
Avg Corn Cost/Ton
4.45
4.03
3.91
3.84
3.79
3.73
3.68
3.62
3.51
Avg DDGS Cost/Ton
176.53
167.69
159.29
151.11
145.00
138.07
131.56
125.56
115.00
Avg SBM Cost/Ton
399.50
376.40
367.24
355.08
349.14
341.53
334.16
326.54
317.01
Each row is on its own – read across not down
ADG example .62 our worse, 1.02 our best
Mortality range is variable
Days on Feed is a good example to not read across, the pigs placed for days did not weight pounds 90% column
*Adjusted FCR for Finish was lb.

29. Finish – Percentile breakdown
Mortality range for our customers on low end is high
Out weight ranges
10% % % % % % % % %

30. Closeout Performance – W2F*
2013
2014
2015
No. Groups
1,889
2,481
2,377
Started
3,863,086
5,550,928
5,220,505
Started Wt
13.5
13.2
Avg Out Wt w/o Dead Wt
270.9
282.4
278.2
Actual Sqft/Pig
7.0
6.3
7.3
Market Sales as % of Pigs Out
91.00%
91.50%
91.80%
Lb Feed Per Hd
665.0
699.0
686.4
Feed Cost per Lb Gain Prod $ $ $
Mortality as % of Pigs In
6.30%
6.10%
5.65%
These are single stocked Wean to Finish groups ONLY.
Producers who do not double stock and split later
Market weight drop greater here with less groups and less space than 2014 with PED
*Single stock wean to finish groups only

31. Closeout Performance – W2F*
2013
2014
2015
ADG
1.58
1.59
1.60 FC
2.60
2.64
ADFI
4.11
4.20
4.17
Avg DOF
163.0
168.5
164.7
Days to First (Top Out) Sale
149
154
150
Avg Feed Cost/Ton
$324.87
$257.54
$225.24
Avg Corn Cost/Bu
$6.58
$4.51
$3.66
Avg DDGS Cost/Ton
$252.94
$185.91
$148.92
Avg SBM Cost/Ton
$453.44
$453.64
$357.41
Fewer days to market because market weight dropped too
*Single stock wean to finish groups only

32. W2F – Percentile breakdown
10%
20%
30%
40%
50%
60%
70%
80%
90%
Start Wt
12.0
12.3
12.8
13.0
13.2
13.5
13.9
14.2
14.9
Avg Out Wt w/o Dead Wt
264.8
269.8
273.4
276.7
279.1
281.9
284.6
287.9
292.7
lb feed per Hd
753.8
729.1
712.5
698.7
686.0
673.8
659.7
643.1
619.3
Feed Cost per lb gain Prod
0.3265
0.3140
0.3060
0.2992
0.2918
0.2844
0.2784
0.2708
0.2587
Mortality as % of Pigs In
9.4%
7.3%
6.1%
5.2%
4.5%
4.0%
3.4%
2.9%
2.3%
ADG
1.49
1.53
1.56
1.59
1.61
1.64
1.67
1.70
1.75 FC
2.78
2.72
2.67
2.63
2.59
2.55
2.51
2.47
2.41
ADFI
3.83
3.95
4.03
4.10
4.18
4.25
4.32
4.41
4.54
Avg DOF
177
172
169
166
164
161
159
156
150
Avg Feed Cost/Ton
247.94
240.47
235.87
231.42
226.59
221.97
216.58
209.90
200.24
Avg Corn Cost/Ton
4.01
3.89
3.80
3.75
3.69
3.63
3.57
3.50
3.38
Avg DDGS Cost/Ton
179.54
170.73
163.61
156.75
151.46
145.29
136.12
129.82
120.00
Avg SBM Cost/Ton
410.70
381.59
369.00
357.31
348.98
344.11
338.32
331.77
323.18
Each row is on its own – read across not down
Mortality / Weight out difference

33. W2F – Market/Out Weight 250-259 260-269 270-279 280-289 290-299
No. Groups 60
297
688
717
283 59
Start Wt
12.3
13.1
13.3
13.2
Avg Out Wt w/o Dead Wt
254.9
265.5
274.9
284.2
296.6
303.3
Actual Sqft/Pig
7.3
7.2
7.1
lb feed per Hd
632.5
649.7
677.2
701.4
732.4
757.2
Feed Cost per lb gain Prod
0.2987
0.2979
0.2953
0.2896
0.2923
0.2902
Mortality as % of Pigs In
7.94%
7.15%
6.03%
4.77%
5.23%
5.46%
ADG
1.52
1.54
1.59
1.62
1.65
1.67 FC
2.63
2.58
2.60
2.59
2.62
ADFI
3.99
4.13
4.22
4.32
4.37
Avg DOF
159.3
162.6
163.8
166.2
169.4
172.8
Avg Feed Cost/Ton
226.97
230.49
227.36
223.19
223.04
221.75
Feed Med Cost Per Pig Produced
1.96
1.98
1.88
2.16
2.00
Other Med Cost Per Pig Produced
3.22
3.30
3.02
3.10
3.45
Breakdown by groups based on their marketed or out weight
You read down on this one and see their performance
Highest mortality and poorest ADG are on the light groups
Feed costs, Med costs, and space are about the same

34. W2F – Market/Out Weight
Mortality drops for healthier pigs brought to market
Increases though over 290lb
Hockey stick of mortality

35. Feed Costs 2015 Avg Feed $/ton Avg Corn $/bu Avg DDGS $/ton
Nursery
Finish
W2F*
Avg Feed $/ton $ $ $
Avg Corn $/bu $ $ $
Avg DDGS $/ton $ $ $
Avg SBM $/ton $ $ $
Corn% in diet
45.7%
60.0%
60.2%
DDGS% in diet
12.8%
20.5%
17.4%
SBM% in diet
24.3%
9.4%
13.7%
Feed cost breakdown by stage for 2015 only
*Single stock wean to finish groups only

36. Marketing - Packer Market weight by packer
See where heavier hogs go and light hogs
Canada overall is about the same a little lighter

37. Thank you!
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