In re Farmland Foods, Inc.                                                                                                                                      Case No. 02-50561
MONTHLY OPERATING REPORT SUMMARY
FOR THE MONTH OF JUNE, 2003
REVENUE
Gross Income		$        124,171,129.03
Less Cost of Goods Sold		$          87,154,681.82
Materials	$       84,189,209.99
Direct Labor	-
Overhead	$         2,965,471.83
Gross Profit		$       37,016,447.21
OPERATING EXPENSES
Owner/Officer-Draws/Salaries	$                            -
Other Employee Salaries	$       16,546,601.94
Advertising and Marketing	$         2,920,395.66
Insurance	$            281,897.05
Payroll Taxes	$         1,335,263.45
Lease and Rent	$            484,231.52
Telephone and Utlities	$         1,801,868.38
Attorney and other Professional Fees	$              41,462.37
UST Quarterly Fees	$                            -
Other Expenses	$       13,822,824.72
Total Operating Expenses		$      37,234,545.09
Net Income (Loss)		$          (218,097.88)
CURRENT ASSETS
Accounts Receivable at end of month		$        74,948,056.53
Increase (Decrease) in AR for month		$          2,292,674.96
Inventory at end of month		$        91,069,093.91
Increase (Decrease) in Inventory for month		$          3,602,041.60
Cash at end of the month		$        (5,330,061.41)
Increase (Decrease) in Cash for month		$             (86,705.49)
LIABILITIES
Increase (Decrease) in pre-petition debt		$           (272,954.17)
Increase (Decrease) in post-petition debt		$          2,105,121.54
Taxes Payable:
Federal Payroll Taxes	$           (735,214.59)
State Payroll Taxes	$           (684,442.09)
Local Payroll Taxes	$                  (940.53)
State Sales Taxes	$             (22,262.06)
Real Estate and Personal	$        (1,627,466.17)
Property Taxes	$              14,310.78
Other (footnote)	$            (37,230.15)
Total Taxes Payable		$        (3,093,244.81)
Footnote:
Use Tax Payable	$            (37,230.15)