<html>

<head>


<title>USPB Form 8-K </title>



</head>

<body lang=EN-US>



<p align=center style='text-align:center'>&nbsp;</p>



<p align=center style='text-align:center'><b>UNITED STATES<br>
SECURITIES AND
EXCHANGE COMMISSION<br>
</b>Washington, D.C. 20549</p>



<p align=center style='text-align:center'> <b>FORM
8-K</b></p>



<p align=center style='text-align:center'>CURRENT REPORT<br>
PURSUANT TO SECTION
13 OR 15(d) OF<br>
THE SECURITIES
EXCHANGE ACT OF 1934</p>



<p align=center style='text-align:center'>Date of Report (date
of earliest event reported):&nbsp; July 19, 2006</p>



<p align=center style='text-align:center'><b><u>U.S.</u></b><b><u>
PREMIUM BEEF, LLC<br>
</u></b>(Exact name of
Registrant as specified in its charter)</p>



<p align=center style='text-align:center'><u>Delaware<br>
</u>(State
  or other jurisdiction of incorporation)</p>

<div align="center">
  <center>





<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=588
 style='width:100%;margin-left:23.4pt;border-collapse:collapse'>
 <tr>
  <td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  333-115164</td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p align=center style='text-align:center'>20-1576986</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=6 valign="bottom"><p>&nbsp;</td>
 </tr>
 <tr>
  <td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt'>(Commission File Number)</p>
  </td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p align="center">(I.R.S. Employer Identification No.)</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=6 valign="bottom"><p>&nbsp;</td>
 </tr>
 <tr>
  <td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=6 valign="bottom"><p>&nbsp;</td>
 </tr>
 <tr>
  <td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=3 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=6 valign="bottom"><p>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt'>12200 North Ambassador Drive<br>
  Kansas City, Missouri&nbsp;&nbsp;
  </td>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p align=center style='text-align:center'>&nbsp;</p>
  </td>
  <td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  <p align=center style='text-align:center;'>64163</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=6 valign="bottom"><p>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=4 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt'>(Address of principal executive
  offices)</p>
  </td>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=4 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin-bottom:0in;margin-bottom:.0001pt' align="center">(Zip Code)</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=6 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td style='border:none;padding:0in 0in 0in 0in' colspan=2 nowrap valign="bottom">
  <p>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:.25in'>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>


  </td>
  <td colspan=6 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  <p align=center style='text-align:center'>(816) 713-8800</p>

  </td>
  <td style='border:none;padding:0in 0in 0in 0in' colspan=2 nowrap valign="bottom">
  <p>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:8.1pt'>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=6 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin-bottom:0in;margin-bottom:.0001pt' align="center">Registrant's
  telephone, number, including area code</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' colspan=2 nowrap valign="bottom">
  <p>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td colspan=6 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>

  </td>
  <td style='border:none;padding:0in 0in 0in 0in' colspan=2 nowrap valign="bottom">
  <p>&nbsp;</td>
 </tr>
 <tr height=0>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td style='border:none' nowrap valign="bottom"></td>
  <td width=6 style='border:none' valign="bottom"></td>
 </tr>
</table>



</center>
</div>



<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (<i>see</i> General
Instruction A.2. below):</p>



<p style="text-indent: 0.5in; margin-left: 0.5in; margin-top: 0; margin-bottom: 0">&#9633;&nbsp; Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</p>

<p style='margin-left:.5in;text-indent:.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</p>

<p style='margin-left:.5in;text-indent:.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))</p>

<p style='margin-left:.5in;text-indent:.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>











<p>&nbsp;</p>











<p>&nbsp;</p>













<hr color="#000080"><p style="page-break-after: always"></p>











<p>&nbsp;</p>











<p>Items under Sections 2 through 9 are not applicable and therefore omitted.</p>



<p><b>Item 1.01 Entry into a Material Definitive Agreement.</b></p>

<p style="text-indent: 36pt">On July 19, 2006, U.S. PREMIUM BEEF, LLC, a limited liability company
formed under the laws of the State of Delaware (successor, by merger, to U.S.
Premium Beef, Ltd.), and COBANK, ACB (&quot;CoBank&quot;), as agent for the benefit of
the Syndication Parties, entered into a &quot;Seventh Amendment to Credit Agreement&quot;
(the &quot;Amendment&quot;).&nbsp; The Amendment was executed on July 19, 2006. &nbsp;The Amendment amends certain provisions of the Credit Agreement (Term Loan) entered into by
CoBank and U.S. Premium Beef, Ltd. on November 25, 1997, and amended from time
to time (the &quot;Credit Agreement&quot;).</p>

<p style="text-indent: 36pt">The Amendment provides that for distributions made to U.S. Premium
Beef, LLC's members on or after January 1, 2006 that are based on an estimate
of the amount of U.S. Premium Beef, LLC's income which would be taxable to U.S.
Premium Beef, LLC's members for such fiscal year, and on U.S. Premium Beef,
LLC's federal income tax return as filed for such fiscal year U.S. Premium
Beef, LLC's members are in fact taxed based on a lesser amount of income,
resulting in a distribution to its members of an amount in excess of the amount
allowed (&quot;Excess Distribution&quot;), the amount of such Excess Distribution shall
be deducted from the amount which could otherwise be distributed to its members
for the following fiscal years until such Excess Distribution has been fully
deducted.&nbsp; </p>







<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>SIGNATURE</b></p>



<p style="text-indent: 36pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.</p>



<p style='margin-left:4in'><b>U.S. PREMIUM BEEF, LLC</b></p>



<p style='margin-left:4in'>&nbsp;</p>



<p style="margin-left: 4in">By&nbsp;
<u>/s/ Steven D. Hunt&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Steven
D. Hunt,<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief
Executive Officer</p>



<p style="margin-left: 3.25in">&nbsp;</p>



<p style="margin-left: 3.25in">&nbsp;</p>







<p>Dated:&nbsp; July 24, 2006</p>



</body>

</html>
[{"type": "8-K", "sequence": "1", "filename": "uspb8k1.htm", "secsgml_size_bytes": 11243}]
{"company-data": {"conformed-name": "U. S. Premium Beef, LLC", "cik": "0001289237", "assigned-sic": "0200", "irs-number": "201576986", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-115164", "film-number": "06976477"}, "business-address": {"street1": "12200 NORTH AMBASSADOR DRIVE, SUITE 501", "city": "KANSAS CITY", "state": "MO", "zip": "64163", "phone": "816-713-8800"}, "mail-address": {"street1": "12200 NORTH AMBASSADOR DRIVE, SUITE 501", "city": "KANSAS CITY", "state": "MO", "zip": "64163"}, "former-company": {"former-conformed-name": "U. S. Premium Beef, Inc.", "date-changed": "20040504"}}
USPB Form 8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION
13 OR 15(d) OF
THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (date
of earliest event reported):  July 19, 2006
U.S.
PREMIUM BEEF, LLC
(Exact name of
Registrant as specified in its charter)
Delaware
(State
  or other jurisdiction of incorporation)
333-115164
20-1576986
(Commission File Number)
(I.R.S. Employer Identification No.)
12200 North Ambassador Drive
Kansas City, Missouri
64163
(Address of principal executive
  offices)
(Zip Code)
(816) 713-8800
Registrant's
  telephone, number, including area code
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (
see
General
Instruction A.2. below):
□  Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
□ 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□ 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))
□ 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Items under Sections 2 through 9 are not applicable and therefore omitted.
Item 1.01 Entry into a Material Definitive Agreement.
On July 19, 2006, U.S. PREMIUM BEEF, LLC, a limited liability company
formed under the laws of the State of Delaware (successor, by merger, to U.S.
Premium Beef, Ltd.), and COBANK, ACB ("CoBank"), as agent for the benefit of
the Syndication Parties, entered into a "Seventh Amendment to Credit Agreement"
(the "Amendment").  The Amendment was executed on July 19, 2006.  The Amendment amends certain provisions of the Credit Agreement (Term Loan) entered into by
CoBank and U.S. Premium Beef, Ltd. on November 25, 1997, and amended from time
to time (the "Credit Agreement").
The Amendment provides that for distributions made to U.S. Premium
Beef, LLC's members on or after January 1, 2006 that are based on an estimate
of the amount of U.S. Premium Beef, LLC's income which would be taxable to U.S.
Premium Beef, LLC's members for such fiscal year, and on U.S. Premium Beef,
LLC's federal income tax return as filed for such fiscal year U.S. Premium
Beef, LLC's members are in fact taxed based on a lesser amount of income,
resulting in a distribution to its members of an amount in excess of the amount
allowed ("Excess Distribution"), the amount of such Excess Distribution shall
be deducted from the amount which could otherwise be distributed to its members
for the following fiscal years until such Excess Distribution has been fully
deducted.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
U.S. PREMIUM BEEF, LLC
By
/s/ Steven D. Hunt
Steven
D. Hunt,
Chief
Executive Officer
Dated:  July 24, 2006