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


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<div style='page:WordSection1;'>

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

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

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

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

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

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

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

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

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

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

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

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

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>Date of Report (date
of earliest event reported):&nbsp; March 2, 2011</p>

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

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

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

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

<table class=MsoNormalTable border=0 cellpadding=0 width=600
 style='width:100%;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:center;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-top:0in'>333-115164</h4>
  </td>
  <td 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","serif";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","serif";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","serif";margin-bottom:.0001pt; margin-top:0in' align="center">(Commission File Number)</p>
  </td>
  <td 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","serif"; 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","serif"; 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","serif"; margin-top:0in'>&nbsp;</p>
  </td>
  <td 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","serif"; 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","serif"; 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","serif"; margin-top:0in'>&nbsp;</p>
  </td>
  <td 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","serif"; 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","serif"; 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","serif";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","serif";font-weight:normal;margin-top:0in'>Kansas City, Missouri </h5>
  </td>
  <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","serif";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","serif";text-align:center;
  margin-top:0in'>&nbsp;</p>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";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","serif";margin-bottom:.0001pt; margin-top:0in'>(Address of principal executive
  offices)</p>
  </td>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='mso-style-name:"NEW_CENTER\,ctr";margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";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='mso-style-name:"NEW_CENTER\,ctr";margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";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","serif"; 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","serif"; 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","serif"; 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","serif";text-align:center; margin-top:0in'>
	<u>&nbsp;&nbsp;&nbsp;&nbsp; (816) 713-8800&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='mso-style-name:"NEW_CENTER\,ctr";margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";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","serif";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='mso-style-name:"NEW_CENTER\,ctr";margin-top:0in;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";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","serif"; 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>
  <td style='border:none'></td>
  <td style='border:none'></td>
  <td style='border:none'></td>
  <td style='border:none'></td>
 </tr>
</table>

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

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

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

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

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

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

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

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

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

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

</div>

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

<br
clear=all style='page-break-before:always'>


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

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

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

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

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Items under Sections 1, 2 and 4 through&nbsp; 8 are not
applicable and therefore omitted.</p>

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

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><b>Item 3.03.&nbsp; Material Modification to Rights of Security
Holders.</b>&nbsp; </p>

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

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in'>The U.S. Premium Beef, LLC (&#147;USPB&#148;)
Board of Directors has approved the amendment and restatement of the USPB
Amended and Restated Limited Liability Company Agreement (the &#147;LLC
Agreement&#148;).&nbsp; Two amendments were adopted pursuant to provisions of the
existing LLC Agreement which allow the USPB Board to adopt certain amendments
by resolution, without the necessity of approval from the USPB members.&nbsp; </p>

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

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in; margin-left:0in; margin-right:0in; margin-top:0in'>The
Board of Directors adopted an amended &#147;Unit Transfer Policy&#148; as Appendix C to
the LLC Agreement.&nbsp; The amended Unit Transfer Policy contains a revised Section
3.4 governing allocations and distributions with respect to units that have
been transferred.&nbsp; Prior to the amendment, USPB&#146;s Unit Transfer Policy provided
for a Transfer to be deemed to have occurred on the date such Transfer is
approved by the Board.&nbsp; Under the amended Unit Transfer Policy, <a name="_DV_C4">a
Transfer shall be deemed to have occurred on the date determined by the Board
in the approval resolution.&nbsp;&nbsp; If a date is not determined by the Board in the
transfer approval resolution, then:&nbsp; (1) for a Conditional Transfer or</a><a
name="_DV_M2"></a> a Non-Conditional Transfer<a name="_DV_C5">, as determined
by the Board,</a><a name="_DV_M3"></a> occurring outside of a qualified
matching service <a name="_DV_C6">the Transfer </a><a name="_DV_M4"></a>shall
be deemed to have occurred on the fifth <a name="_DV_M5"></a>business day after
<a name="_DV_C9">the date the</a><a name="_DV_M6"></a> Transfer is approved by
the Board<a name="_DV_C11">;</a><a name="_DV_M7"></a> and<a name="_DV_C12"> (2)
for</a><a name="_DV_M8"></a> a Non-Conditional Transfer occurring through the
use of a qualified matching service<a name="_DV_C13">, the Transfer</a><a
name="_DV_M9"></a> shall be deemed to have occurred on the fifth <a
name="_DV_M10"></a>business day after the <a name="_DV_C16">&nbsp;later of:&nbsp; (i) the
date of the</a><a name="_DV_M11"></a> Board approval of <a name="_DV_C18">the
Transfer;</a><a name="_DV_M13"></a> or (<a name="_DV_C20">ii</a><a
name="_DV_M14"></a>) 45 days after the date the offer to sell was posted to the
qualified matching service.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;text-indent:.5in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in; margin-left:0in; margin-right:0in; margin-top:0in'>In
addition to adopting the amended Unit Transfer Policy as&nbsp; Appendix C of the LLC
Agreement as described above, the Board of Directors has also adopted an
amended list of the current &#147;Board of Directors of U.S. Premium Beef, LLC&#148; as
Appendix D to the LLC Agreement.&nbsp; </p>

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

<p style='mso-style-name:"bspmBodj\,bj";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:0in;page-break-after:avoid'><b>Item 9.01.&nbsp;
Financial Statements and Exhibits.</b></p>

<p style='mso-style-name:"bspmBod\,b";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:0in;page-break-after:avoid'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.&nbsp;
The following exhibits are filed pursuant to Item 9.01.</p>

<p style='mso-style-name:"bspmBod\,b";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:0in;page-break-after:avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended
and Restated Limited Liability Company Agreement.&nbsp;&nbsp;&nbsp;&nbsp; </p>

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

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

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

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

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

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

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

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

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>Dated:&nbsp; March 7, 2011</p>
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[{"type": "8-K", "sequence": "1", "filename": "esuspb8k.htm", "secsgml_size_bytes": 24103}]
{"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": "11668502"}, "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):  March 2, 2011
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 1, 2 and 4 through  8 are not
applicable and therefore omitted.
Item 3.03.  Material Modification to Rights of Security
Holders.
The U.S. Premium Beef, LLC ("USPB")
Board of Directors has approved the amendment and restatement of the USPB
Amended and Restated Limited Liability Company Agreement (the "LLC
Agreement").  Two amendments were adopted pursuant to provisions of the
existing LLC Agreement which allow the USPB Board to adopt certain amendments
by resolution, without the necessity of approval from the USPB members.
The
Board of Directors adopted an amended "Unit Transfer Policy" as Appendix C to
the LLC Agreement.  The amended Unit Transfer Policy contains a revised Section
3.4 governing allocations and distributions with respect to units that have
been transferred.  Prior to the amendment, USPB's Unit Transfer Policy provided
for a Transfer to be deemed to have occurred on the date such Transfer is
approved by the Board.  Under the amended Unit Transfer Policy,
a
Transfer shall be deemed to have occurred on the date determined by the Board
in the approval resolution.   If a date is not determined by the Board in the
transfer approval resolution, then:  (1) for a Conditional Transfer or
a Non-Conditional Transfer
, as determined
by the Board,
occurring outside of a qualified
matching service
the Transfer
shall
be deemed to have occurred on the fifth
business day after
the date the
Transfer is approved by
the Board
;
and
(2)
for
a Non-Conditional Transfer occurring through the
use of a qualified matching service
, the Transfer
shall be deemed to have occurred on the fifth
business day after the
later of:  (i) the
date of the
Board approval of
the
Transfer;
or (
ii
) 45 days after the date the offer to sell was posted to the
qualified matching service.
In
addition to adopting the amended Unit Transfer Policy as  Appendix C of the LLC
Agreement as described above, the Board of Directors has also adopted an
amended list of the current "Board of Directors of U.S. Premium Beef, LLC" as
Appendix D to the LLC Agreement.
Item 9.01. 
Financial Statements and Exhibits.
(d)       Exhibits. 
The following exhibits are filed pursuant to Item 9.01.
3.1       Amended
and Restated Limited Liability Company Agreement.
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:  March 7, 2011