Compeer Financial Industry Overview

12 SWINE INDUSTRY ENVIRONMENT . . Increased price volatility throughout 2019 Largely driven by trade and foreign animal disease concerns + USMCA close + Chinese production plummets due to African Swine Fever - Demand remains high while supplies shrink Tariffs limit amount of US pork to meet demand Margins varied from significant losses to strong profits and back Concern throughout industry in keeping ASF out of the US Strong producer biosecurity procedures ▪ USDA and states working to prepare in case of an outbreak COMPEER FINANCIAL™

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