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<title>USPB Form 8K</title>


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<div style='page:Section1;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>UNITED STATES</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>SECURITIES AND
EXCHANGE COMMISSION</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>Washington, D.C.
20549</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>FORM
8-K</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>CURRENT REPORT</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>PURSUANT TO SECTION
13 OR 15(d) OF</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>THE SECURITIES
EXCHANGE ACT OF 1934</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>Date of Report (date
of earliest event reported):&nbsp; February 19, 2009</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><u>U.S. PREMIUM
BEEF, LLC</u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>(Exact name of
Registrant as specified in its charter)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

  <h4 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman";font-weight:normal;text-decoration:underline;'><font style="font-size: 12.0pt">Delaware</font></h4>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>(State
  or other jurisdiction of incorporation)</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<div align="center">

<table class=MsoNormalTable border=0 cellpadding=0 width=600
 style='width:90%;margin-left:.9pt;border-collapse:collapse'>
 <tr>
  <td colspan=3 valign=top 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'>
  <h4 style='margin-bottom:.0001pt;text-align:left;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman";font-weight:normal;margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333-115164</h4>
  </td>
  <td width=150 colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top 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'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'>20-1576986</p>
  </td>
 </tr>
 <tr>
  <td colspan=3 valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-top:0in'>(Commission File Number)</p>
  </td>
  <td width=150 colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in' align="center">(I.R.S. Employer Identification No.)</p>
  </td>
 </tr>
 <tr>
  <td colspan=3 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td width=150 colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td colspan=3 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td width=150 colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=4 valign=top 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'>
  <h1 style='margin-top:12.0pt;margin-bottom:3.0pt;font-size:12.0pt;font-family:"Times New Roman";font-weight:normal;margin-bottom:.0001pt; margin-top:0in'>12200 North Ambassador Drive</h1>
  <h5 style='margin-bottom:.0001pt;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman";font-weight:normal;margin-top:0in'>Kansas City, Missouri&nbsp;&nbsp; </h5>
  </td>
  <td width=150 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top 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'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-top:0in'>&nbsp;</p>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-top:0in'>64163</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=4 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-top:0in'>(Address of principal executive
  offices)</p>
  </td>
  <td width=150 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
  </td>
  <td colspan=3 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>(Zip Code)</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=6 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in'>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:.25in'>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' colspan="8">
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'>
	<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (816) 713-8800&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	</u></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:8.1pt'>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' colspan="8">
  <p style='margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>Registrant&#146;s
  telephone, number, including area code</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center; margin-top:0in'>&nbsp;</p>
  </td>
  <td colspan=6 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in'>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</td>
 </tr>
 <tr height=0>
  <td style='border:none'></td>
  <td style='border:none'></td>
  <td style='border:none'></td>
  <td style='border:none'></td>
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  <td style='border:none'></td>
  <td style='border:none'></td>
  <td style='border:none'></td>
 </tr>
</table>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&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='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman";'>&#9633;&nbsp; Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-indent:.5in'>&#9633;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-indent:.5in'>&#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:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-indent:.5in'>&#9633;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

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style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>Items under Sections 2 through 8 are not applicable and
therefore are omitted.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";font-weight:bold;'>&nbsp;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'><b>Item 1.02.&nbsp; Termination of a
Material Definitive Agreement.</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;font-size:12.0pt;font-family:"Times New Roman";text-indent:45.35pt'>As previously reported, on
February 29, 2008, U.S. Premium Beef, LLC (&#147;the Company&#148;), the Company&#146;s
majority owned subsidiary National Beef Packing Company, LLC (&#147;National&#148;), JBS
S.A. (&#147;JBS&#148;), and the other holders of membership interests in National,
including NBPCO Holdings, LLC (&#147;NBPCO&#148;) and parties controlled by three
executive officers of National, John R. Miller, Timothy M. Klein and Scott H.
Smith, entered into a Membership Interest Purchase Agreement (as amended from
time to time, the &#147;Agreement&#148;).&nbsp; Under the terms of the Agreement, if the
closing of the transactions contemplated under the Agreement (the &#147;Closing&#148;)
shall not have occurred for any reason on or before the date 360 days after the
date of execution of the Agreement, either JBS or the Sellers, as defined in
the Agreement, may terminate the Agreement.&nbsp; In the Fourth Amendment to the
Agreement dated February 19, 2009 (the &#147;Amendment&#148;), the parties to the
Agreement agreed that the Closing will not occur on or before February 23,
2009, the date that is 360 days after execution of the Agreement.&nbsp; Accordingly,
on February 19, 2009, the Sellers delivered a termination notice to Buyer to
terminate the Agreement effective as of February 23, 2009.&nbsp; </p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:45.35pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>Upon termination of the Agreement,
the Agreement provides that the Sellers are entitled to a cash amount equal to
$25,000,000 or a lesser amount agreed to by the parties in an executed
termination notice (the &#147;Termination Fee&#148;), allocated in proportion to each
Seller&#146;s respective holdings of National interests or as provided in an
executed termination notice.&nbsp; The Company&#146;s portion of the Termination Fee is
$14,571,918.97.&nbsp; If JBS does not pay the Termination Fee to Sellers in full on
February 23, 2009, JBS will be required to pay to Sellers the Termination Fee
plus certain additional costs of National and Sellers.&nbsp; </p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;font-size:12.0pt;font-family:"Times New Roman";text-indent:45.35pt'>After full payment of the
Termination Fee plus any applicable costs, the Agreement will become void and
of no further force or effect with no liability or obligation of the parties
under the Agreement, except that the parties shall return documentation as
provided in the Agreement and the obligations of the parties under the
Confidentiality Agreement as defined in the Agreement shall continue.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:45.35pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>On February&nbsp;20, 2009, National
and the Company jointly issued a press release announcing the termination of
the Agreement as discussed above.&nbsp; A copy of the press release is being filed
as <u>Exhibit 99.1</u> hereto and is incorporated herein by reference.&nbsp; On
February 20, 2009, the Company sent letters to its Unitholders and Patronage
Notice Holders announcing the termination of the Agreement as discussed above.&nbsp;
The letters to the Company&#146;s Unitholders and Patronage Notice Holders are being
filed as <u>Exhibit 99.2</u> and <u>Exhibit 99.3</u>, respectively, and are
incorporated herein by reference.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><b>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>(c) Exhibits</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>The following are filed as Exhibits to this Report:</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

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 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>2</p>
  </td>
 </tr>
</table>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td valign=top style='width:10%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:6.0pt'><u>Exhibit No.</u></p>
  </td>
  <td valign=bottom style='width:2%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:6.0pt'>&nbsp;</p>
  </td>
  <td valign=top style='width:87%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:6.0pt'><u>Description of Exhibit</u></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='width:10%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
	<a href="es991jbs.htm">99.1</a></p>
  </td>
  <td valign=bottom style='width:2%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:87%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>Press Release dated
  February&nbsp;20, 2009</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='width:10%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
	<a href="es992jbs.htm">99.2</a></p>
  </td>
  <td valign=bottom style='width:2%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:87%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>Company Letter to Unitholders
  dated February 20, 2009</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='width:10%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
	<a href="es993jbs.htm">99.3</a></p>
  </td>
  <td valign=bottom style='width:2%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:87%;padding-left:.7pt; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>Company Letter to Patronage
  Notice Holders dated February 20, 2009</p>
  </td>
 </tr>
</table>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'><b>SIGNATURE</b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;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:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table border="0" style="border-collapse: collapse" width="100%" id="table1">
	<tr>
		<td width="67%">&nbsp;</td>
		<td width="33%" nowrap>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'><b>U.S. PREMIUM
BEEF, LLC</b></p></td>
	</tr>
	<tr>
		<td width="67%">&nbsp;</td>
		<td width="33%" nowrap>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-right:0in; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="67%">&nbsp;</td>
		<td width="33%" nowrap>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-right:0in; margin-top:0in'>
By&nbsp;
<u>/s/ Steven D. Hunt</u>_______</p>

		</td>
	</tr>
	<tr>
		<td width="67%">&nbsp;</td>
		<td width="33%" nowrap>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-right:0in; margin-top:0in'>
Steven D. Hunt,</p>

		</td>
	</tr>
	<tr>
		<td width="67%">&nbsp;</td>
		<td width="33%" nowrap>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-right:0in; margin-top:0in'>
Chief Executive Officer</p>

		</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>Dated:&nbsp; February 20, 2009</p>

<h6 style='margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman";font-weight:bold;text-align:center'>&nbsp;</h6>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<div>

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  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>3</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

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<hr size=2 width="100%" noshade color=navy align=center>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

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[{"type": "8-K", "sequence": "1", "filename": "esuspb8k.htm", "secsgml_size_bytes": 29148}]
{"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": "09623887"}, "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 8K
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):  February 19, 2009
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 8 are not applicable and
therefore are omitted.
Item 1.02.  Termination of a
Material Definitive Agreement.
As previously reported, on
February 29, 2008, U.S. Premium Beef, LLC ("the Company"), the Company's
majority owned subsidiary National Beef Packing Company, LLC ("National"), JBS
S.A. ("JBS"), and the other holders of membership interests in National,
including NBPCO Holdings, LLC ("NBPCO") and parties controlled by three
executive officers of National, John R. Miller, Timothy M. Klein and Scott H.
Smith, entered into a Membership Interest Purchase Agreement (as amended from
time to time, the "Agreement").  Under the terms of the Agreement, if the
closing of the transactions contemplated under the Agreement (the "Closing")
shall not have occurred for any reason on or before the date 360 days after the
date of execution of the Agreement, either JBS or the Sellers, as defined in
the Agreement, may terminate the Agreement.  In the Fourth Amendment to the
Agreement dated February 19, 2009 (the "Amendment"), the parties to the
Agreement agreed that the Closing will not occur on or before February 23,
2009, the date that is 360 days after execution of the Agreement.  Accordingly,
on February 19, 2009, the Sellers delivered a termination notice to Buyer to
terminate the Agreement effective as of February 23, 2009.
Upon termination of the Agreement,
the Agreement provides that the Sellers are entitled to a cash amount equal to
$25,000,000 or a lesser amount agreed to by the parties in an executed
termination notice (the "Termination Fee"), allocated in proportion to each
Seller's respective holdings of National interests or as provided in an
executed termination notice.  The Company's portion of the Termination Fee is
$14,571,918.97.  If JBS does not pay the Termination Fee to Sellers in full on
February 23, 2009, JBS will be required to pay to Sellers the Termination Fee
plus certain additional costs of National and Sellers.
After full payment of the
Termination Fee plus any applicable costs, the Agreement will become void and
of no further force or effect with no liability or obligation of the parties
under the Agreement, except that the parties shall return documentation as
provided in the Agreement and the obligations of the parties under the
Confidentiality Agreement as defined in the Agreement shall continue.
On February 20, 2009, National
and the Company jointly issued a press release announcing the termination of
the Agreement as discussed above.  A copy of the press release is being filed
as
Exhibit 99.1
hereto and is incorporated herein by reference.  On
February 20, 2009, the Company sent letters to its Unitholders and Patronage
Notice Holders announcing the termination of the Agreement as discussed above. 
The letters to the Company's Unitholders and Patronage Notice Holders are being
filed as
Exhibit 99.2
and
Exhibit 99.3
, respectively, and are
incorporated herein by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following are filed as Exhibits to this Report:
2
Exhibit No.
Description of Exhibit
99.1
Press Release dated
  February 20, 2009
99.2
Company Letter to Unitholders
  dated February 20, 2009
99.3
Company Letter to Patronage
  Notice Holders dated February 20, 2009
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:  February 20, 2009
3