U. S. Premium Beef (USPB) 10-K 10 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Feb. 27, 2016
Entity Registrant Name	U. S. Premium Beef, LLC
Trading Symbol	USPB
Document Type	10-K
Document Period End Date	Dec. 26, 2015
Amendment Flag	false
Entity Central Index Key	1,289,237
Current Fiscal Year End Date	--12-26
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float	$ 0
Class A Units [Member]
Entity Common Stock, Shares Outstanding		735,385
Class B Units [Member]
Entity Common Stock, Shares Outstanding		755,385

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Current assets:
Cash and cash equivalents	$ 85,220	$ 92,344
Due from affiliates	137	82
Other current assets	8	5
Total current assets	85,365	92,431
Property, plant, and equipment, at cost	223	219
Less accumulated depreciation	175	214
Net property, plant, and equipment	48	5
Investment in National Beef Packing Company, LLC	132,628	147,808
Other assets	196	257
Total assets	218,237	240,501
Current liabilities:
Accounts payable - trade	$ 14	34
Due to affiliates		17
Accrued compensation and benefits	$ 1,066	1,169
Other accrued expenses and liabilities	179	120
Patronage notices payable	$ 90	90
Distributions payable		2
Total current liabilities	$ 1,349	1,432
Long-term liabilities:
Other liabilities	5,118	5,983
Total long-term liabilities	5,118	5,983
Total liabilities	$ 6,467	$ 7,415
Commitments and contingencies
Capital shares and equities:
Members' capital, 735,385 Class A units and 755,385 Class B units authorized, issued and outstanding	$ 211,770	$ 233,086
Total capital shares and equities	211,770	233,086
Total liabilities and capital shares and equities	$ 218,237	$ 240,501

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 26, 2015	Dec. 27, 2014
Class A Units [Member]
Members' capital, units authorized	735,385	735,385
Members' capital, units issued	735,385	735,385
Members' capital, units outstanding	735,385	735,385
Class B Units [Member]
Members' capital, units authorized	755,385	755,385
Members' capital, units issued	755,385	755,385
Members' capital, units outstanding	755,385	755,385

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Net sales
Costs and expenses:
Cost of sales
Selling, general, and administrative expenses	$ 2,397	$ 3,116	$ 5,364
Depreciation and amortization	7	2	6
Total costs and expenses	2,404	3,118	5,370
Operating loss	(2,404)	(3,118)	(5,370)
Other income (expense):
Interest income	47	47	40
Interest expense	(13)	(30)	(70)
Equity in (loss) income of National Beef Packing Company, LLC	(18,949)	(6,140)	(6,464)
Other, net	4	204	671
Total other expense	(18,911)	(5,919)	(5,823)
Loss before taxes	(21,315)	(9,037)	(11,193)
Income tax expense	(1)	(2)	(3)
Net loss	$ (21,316)	$ (9,039)	$ (11,196)
Class A Units [Member]
Loss per unit:
Basic	$ (2.90)	$ (1.23)	$ (1.52)
Diluted	$ (2.90)	$ (1.23)	$ (1.52)
Outstanding weighted-average Class A and Class B units:
Basic	735,385	735,385	735,385
Diluted	735,385	735,385	735,385
Class B Units [Member]
Loss per unit:
Basic	$ (25.40)	$ (10.77)	$ (13.34)
Diluted	$ (25.40)	$ (10.77)	$ (13.34)
Outstanding weighted-average Class A and Class B units:
Basic	755,385	755,385	755,385
Diluted	755,385	755,385	755,385

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Statement of Comprehensive Income [Abstract]
Net loss	$ (21,316)	$ (9,039)	$ (11,196)
Other comprehensive income (expense):
Comprehensive loss	$ (21,316)	$ (9,039)	$ (11,196)

Consolidated Statements of Capi

Consolidated Statements of Capital Shares and Equities - Members' Capital - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Begning Balance	$ 233,086	$ 244,212	$ 254,546
Allocation of net loss for the year ended	(21,316)	(9,039)	(11,196)
Tax year over distribution			862
Tax year distribution		(2,087)
Ending Balance	$ 211,770	$ 233,086	$ 244,212

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Cash flows from operating activities:
Net loss	$ (21,316)	$ (9,039)	$ (11,196)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7	2	6
Equity in loss (income) of National Beef Packing Company, LLC	18,949	6,140	6,464
Changes in assets and liabilities (net of acquisition):
Due from affiliates	$ (55)	588	(13)
Other receivables		3	75
Other assets	$ 57	447	955
Accounts payable	(20)	9	(17)
Due to affiliates	(17)	9	(438)
Accrued compensation and benefits	(968)	(3,073)	(1,695)
Other accrued expenses and liabilities	60	14	(92)
Net cash used in operating activities	(3,303)	$ (4,900)	$ (5,951)
Cash flows from investing activities:
Capital expenditures, including interest capitalized	$ (51)
Proceeds from sale of majority interest in National Beef Packing Co., LLC, net		$ 36,943
Distributions from National Beef Packing Company, LLC		$ 1,979	$ 4,517
Additional minority interest acquired in National Beef Packing Company, LLC	$ (3,768)		(1,507)
Net cash (used in) provided by investing activities	(3,819)	$ 38,922	3,010
Cash flows from financing activities:
Change in overdraft balances	$ (2)	(221)	26
Prior year excess distribution		818	$ 44
Partnership distributions and redemptions		(2,087)
Net cash (used in) provided by financing activities	$ (2)	(1,490)	$ 70
Net (decrease) increase in cash	(7,124)	32,532	(2,871)
Cash and cash equivalents at beginning of period	92,344	59,812	62,683
Cash and cash equivalents at end of period	85,220	92,344	59,812
Supplemental cash disclosures:
Cash paid during the period for interest	40	40	69
Cash paid during the period for taxes, net	$ 1	$ 2	$ 3

Description of Business

Description of Business	12 Months Ended
	Dec. 26, 2015
Description of Business
Description of Business	NOTE 1. Description of Business U.S. Premium Beef (USPB or the Company) was formed as a closed marketing cooperative on July 1, 1996, and was then known as U.S. Premium Beef, Ltd. Its mission is to increase the quality of beef and long-term profitability of cattle producers by creating a fully integrated producer-owned beef processing system that is a global supplier of high quality, value-added beef products responsive to consumer desires. On December 1, 1997, USPB became operational by acquiring 25.4966% of Farmland National Beef Packing Co., L.P. (FNB), a partnership owned by USPB and Farmland Industries, Inc. (Farmland). USPB acquired an additional 3.29% partnership interest in February 1998, bringing its ownership to 28.7866% of FNB. Farmland owned the remaining 71.2134%. On May 31, 2002, Farmland and four of its subsidiaries filed voluntary petitions to reorganize under Chapter 11 of the United States Bankruptcy Code. In the fourth quarter of fiscal year 2003, USPB acquired a controlling interest in the former FNB, now National Beef Packing Company, LLC (NBP). On August 18, 2004, the shareholders of U.S. Premium Beef, Ltd. approved the merger of the cooperative into a wholly-owned subsidiary, U.S. Premium Beef, Inc., a Delaware corporation. The merger was effective on August 29, 2004. The Delaware corporation then, in a statutory conversion authorized under Delaware law, converted into a Delaware limited liability company (see Note 9). Following the effective date of the merger and the statutory conversion, the business of the cooperative continues in the limited liability company form of business organization. On December 5, 2011, USPB entered into a Membership Interest Purchase Agreement with Leucadia National Corporation (Leucadia), NBP, NBPCo Holdings, LLC (NBPCo), TKK Investments, LLC (TKK), TMKCo, LLC (TMKCo), and TMK Holdings, LLC (TMK Holdings) (Purchase Agreement). The Purchase Agreement provided for (i) Leucadia to purchase 56.2415% of the membership interests in NBP (National Interests) from the Company for $646,777,342 and 19.8775% of the National Interests from NBPCo for $228,591,527; (ii) pursuant to pre-existing put rights, NBP to purchase from TKK and TMKCo all the National Interests owned by TKK and TMKCo for $75,946,955; and (iii) Leucadia to sell to TMK Holdings 0.6522% of the National Interests for $7,500,000 (Leucadia Transaction). Upon consummation of the Leucadia Transaction, the parties owned the following percentage membership interests in NBP: Leucadia 78.9477%; USPB 15.0729%; NBPCo 5.3272%; and TMK Holdings 0.6522%. In connection with its approval of the Purchase Agreement, the Company’s Board of Directors adopted a change to the Company’s fiscal year, which became effective upon closing. The Leucadia Transaction closed on December 30, 2011 and the Company’s fiscal year-end changed from the last Saturday in August to the last Saturday in December. Beginning with fiscal year 2012 the Company will file annual reports for each 52 week or 53 week period ended on the last Saturday, in December. NBP is one of the largest beef processing companies in the U.S., accounting for approximately 12.5% of the market. NBP processes and markets fresh boxed beef, consumer-ready beef, beef byproducts and wet blue leather for domestic and international markets. Based in Kansas City, Missouri, NBP had about 8,400 employees at December 26, 2015 and generated total revenues of $7.4 billion in 2015. The largest share of NBP’s revenue, about 91%, is generated from the sale of fresh and chilled boxed beef products. NBP also generates revenues through value-added production with its consumer-ready products. In addition, NBP operates one of the largest wet blue tanning facilities in the world (wet blue tanning refers to the first step in processing raw and brine-cured hides into tanned leather), selling processed hides to tanners that produce finished leather for the automotive, luxury goods, apparel and furniture industries. Other streams of revenue include sales through its subsidiary, Kansas City Steak Company, LLC, which sells portioned beef and other products to customers in the food service and retail channels, as well as direct to consumers through internet, direct mail and direct response television, and service revenues generated by National Carriers, Inc., a wholly owned transportation and logistics company that is one of the largest refrigerated and livestock carrier operations in the U.S. and transports products for NBP and a variety of other customers. NBP’s profitability typically fluctuates seasonally as well as cyclically, with relatively higher margins in the spring and summer months and during times of ample cattle availability. On December 30, 2011, USPB entered into a new Cattle Purchase and Sale Agreement with NBP. Per the terms and conditions of the Agreement, NBP is required to purchase through USPB from its owners and associates, and USPB is required to sell and deliver from its unitholders and associates to NBP, a base amount of 735,385 (subject to adjustment) head of cattle per year. In fiscal years 2015, 2014 and 2013, USPB and NBP agreed to increase the number of cattle that USPB’s unitholders and associates could deliver during USPB’s delivery year by up to 10%. During fiscal years 2015, 2014, and 2013, USPB’s owners and associates provided approximately 28%, 23%, and 21%, respectively, of NBP’s total cattle requirements. The purchase price for the cattle is determined by pricing grids, which, at all times, are required to be no less favorable than any other pricing grid being utilized by NBP and the pricing grid shall be competitive with NBP’s major competitors for the purchase of cattle. NBP believes the pricing grids are based on terms that could be obtained from an unaffiliated party. The cattle supply agreement extends through December 31, 2017, with automatic one year extensions on each December 30, unless either party provides a notice not to extend sixty days prior to the annual anniversary date. NBP also purchased additional cattle from certain USPB unitholders and associates outside of the cattle supply agreement. USPB sources all of its cattle requirements from its unitholders and associates. Unitholders enter into Uniform Cattle Delivery and Marketing Agreements and are obligated to deliver a designated number of cattle to USPB during the delivery year. The agreements carry a term of five years and have an evergreen renewal provision. Both agreements provide for minimum quality standards, delivery variances, and termination provisions, as defined.

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	12 Months Ended
	Dec. 26, 2015
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	NOTE 2. Basis of Presentation and Accounting Policies. Basis of Presentation and Consolidation As a result of the Leucadia Transaction, which closed December 30, 2011, USPB’s investment in NBP is accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control. Fiscal Year With the closing of the Leucadia Transaction on December 30, 2011, the Company’s fiscal year-end changed from the last Saturday in August to the last Saturday in December. Beginning with fiscal year 2012, the Company will file annual reports for each 52 week or 53 week period ended on the last Saturday in December. Use of Estimates The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, using management’s best estimates and judgments where appropriate. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of December 26, 2015 and December 27, 2014, the Company had cash and cash equivalents of $85.2 million and $92.3 million, respectively. Investment in National Beef Packing Company, LLC As a result of the Leucadia Transaction, beginning on December 31, 2011, USPB’s 15.0729% investment in NBP accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control. In December 2015, USPB contributed $3.8 million of additional capital to NBP to purchase 33.97 NBP units and maintain its 15.0729% ownership percentage. USPB conducted an evaluation to determine if its investment in NBP was impaired as of the end of the fiscal year in accordance with ASC 323 Investments Equity Method and Joint Ventures. The evaluation included both quantitative and qualitative factors. The quantitative approach computed the fair value of the investment using market based and discounted cash flow valuation approaches, and resulted in a fair value that exceeded the carrying value. As a result of the analysis, USPB concluded that the carrying value of its investment in NBP was not impaired as of December 26, 2015. Property, Plant, and Equipment Property, plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows: Buildings and improvements 15 to 25 years Machinery and equipment 2 to 15 years Furniture and fixtures 3 to 5 years Trailers and automotive equipment 2 to 4 years Upon disposition of these assets, any resulting gain or loss is included in other, net. Major repairs and maintenance costs that extend the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations. A summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows (thousands of dollars): December 26, December 27, 2015 2014 Land and improvements $ - $ - Building and improvements - - Machinery and equipment 24 37 Furniture and fixtures 140 126 Trailers and automotive equipment 59 57 Construction in process - - Total property, plant, and equipment, at cost 223 220 Accumulated depreciation 175 215 Property, plant, and equipment, net $ 48 $ 5 Depreciation expense was immaterial for fiscal years ended December 26, 2015 and December 27, 2014. Overdraft Balances USPB utilizes a controlled disbursement account to fund cash distribution checks presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are included in patronage notices payable and distributions payable and the change in the related balances are reflected in financing activities on the consolidated statement of cash flows. Overdraft balances totaled $0.1 million and $0.1 million as of December 26, 2015 and December 27, 2014, respectively. Income Taxes Effective August 29, 2004, the Company converted to an LLC, and under this structure, taxes are not provided at the Company level because the results of operations are included in the taxable income of the individual members. Selling, General, and Administrative Selling expenses consist primarily of salaries, bonuses, phantom unit option expense, trade promotions, advertising, commissions and other marketing costs. General and administrative costs consist primarily of general management, insurance and professional expenses. Noncompetition Payments The former CEO’s employment agreement provided for him to receive noncompetition payments in connection with the Leucadia transaction. During calendar years 2015 and 2014, the former CEO was paid $849,911 and $847,334, respectively, in noncompetition payments. He will continue to receive noncompetition payments of approximately $850,000 per year during calendar years 2016 through 2021. The current CEO’s employment agreement provides for him to receive noncompetition payments for a twelve month period following his termination of employment with USPB. As of December 26, 2015 and December 27, 2014, the Company had accrued $4.7 million and $5.5 million, respectively, for the noncompetition agreements. Earnings Per Unit Under the LLC structure, earnings of the Company are to be distributed to unitholders based on their proportionate share of underlying equity, and, as a result, earnings per unit (EPU) has been presented in the accompanying Consolidated Statement of Operations and in the table that follows. Basic EPU excludes dilution and is computed by first allocating 10% of net income or loss attributable to USPB to Class A units and the remaining 90% is allocated to Class B units. Net income or loss allocated to the Class A and Class B units is then divided by the weighted-average number of Class A and Class B units outstanding for the period to determine the basic EPU for each respective class of unit. Diluted EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his 20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding. Loss Per Unit Calculation 52 weeks ended (thousands of dollars, except unit and per unit data) December 26, 2015 December 27, 2014 December 28, 2013 Basic loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding units (denominator) Class A 735,385 735,385 735,385 Class B 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 ) Diluted loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding Class A units 735,385 735,385 735,385 Effect of dilutive securities - Class A unit options - - - Units (denominator) 735,385 735,385 735,385 Weighted average outstanding Class B units 755,385 755,385 755,385 Effect of dilutive securities - Class B unit options - - - Units (denominator) 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 )

Long-Term Debt and Loan Agreeme

Long-Term Debt and Loan Agreements	12 Months Ended
	Dec. 26, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Loan Agreements	NOTE 3. Long-Term Debt and Loan Agreements (a) Master Loan Agreement On May 29, 2014, USPB and CoBank entered into a Revolving Term Loan Supplement to the Master Loan Agreement dated July 26, 2011. The new Revolving Term Loan Supplement provides for a $5 million revolving credit commitment, a reduction of $10 million from the prior commitment. The new commitment carries a term of three years, maturing on June 30, 2017. The Pledge Agreement provides CoBank with a first-priority security interest in USPB’s membership interests in, and distributions from, NBP. All of the $5 million revolving credit commitment was available as of December 26, 2015. Borrowings under the revolving credit commitment bear interest at the base rate or LIBOR rate plus applicable margin. On December 30, 2011, in connection with the closing of the transaction with Leucadia, the Company and CoBank entered into the Consent and First Amendment to Pledge Agreement and Security Agreement, by which CoBank agreed to (i) consent to the Membership Interest Sale and the PA Distribution, (ii) release its security interest in, and liens on, the Membership Interests being sold pursuant to the Membership Interest Sale, (iii) consent to the NBP Pledge and (iv) consent to the amendments and restatements of the NBP Operating Agreement and the PA Newco Operating Agreement. The NBP Pledge grants NBP a perfected security interest in and to USPB’s membership interests in, and distributions from, NBP, subject only to the prior first priority security interest held by CoBank. The Company was in compliance with all of the Master Loan Agreement debt covenants as of December 26, 2015. (b) Capital and Operating Leases USPB leases its office space in Kansas City, Missouri and Dodge City Kansas. Rent expense associated with operating leases was $0.1 million for fiscal years 2015, 2014, and 2013. USPB expects that it will renew lease agreements or enter into new leases as the existing leases expire.

Employee Options and Benefit Pl

Employee Options and Benefit Plans	12 Months Ended
	Dec. 26, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Options and Benefit Plans	NOTE 4. Employee Options and Benefit Plans The cooperative established a phantom stock option plan for the then CEO, Mr. Hunt, which provided for the issuance of 20,000 phantom stock options with an exercise price of $55 per share, all of which had been issued and were exercisable upon election. In connection with the conversion described in Note 9, this phantom stock option plan was converted into a phantom unit plan in a similar fashion as the conversion of cooperative shares to LLC units. The 20,000 phantom stock options converted into 20,000 phantom Class A units and 20,000 phantom Class B units with an exercise price of $55 per unit and $0 per unit, respectively. In August 2009, Mr. Hunt exercised 20,000 Class B units at an exercise price of $0 per unit. In April 2014, Mr. Hunt exercised his right to receive an appreciation payment for his 20,000 Class A phantom units, which had an exercise price of $55 per unit. The Company recognized compensation expense for Mr. Hunt’s Class A phantom units for the difference between the fair market value for the Class A units and the $55 exercise price. For Mr. Hunt’s phantom plan, an increase in compensation expense of $0.0 million, $0.0 million and $1.4 million was recognized in fiscal years 2015, 2014 and 2013, respectively. In September 2010, USPB’s Board of Directors approved a management phantom unit plan. The phantom unit plan provides for the award of unit appreciation rights to management employees of USPB. USPB’s CEO administers the phantom unit plan and awards “Phantom Units” (Class A and Class B Units) to employees in amounts determined by the CEO, subject to the total Phantom Unit amount approved by the Board of Directors of USPB. A total of 5,000 Class A phantom units and 5,000 Class B phantom units were awarded to management employees, with a strike price of $118 and $157, respectively. The closing of the Leucadia Transaction resulted in management employees receiving a payment under the management phantom unit plan. As a result of that payment, the strike price for both the Class A phantom units and Class B phantom units was satisfied and is now $0. The phantom units became fully vested in August 2015. For the management phantom plan, compensation expense of $0.0 million, $0.0 million, and $0.5 million was recognized in fiscal years 2015, 2014 and 2013, respectively. As a result of the retirement of one of USPB’s employees on December 31, 2014, 50 Class A phantom units and 50 Class B phantom units were forfeited as they were not vested. One third of the retiring employee’s vested phantom units will be exercised and the appreciation rights paid in three tranches (retirement, and first and second anniversary of retirement). At the end of fiscal year 2015, 4,883 Class A phantom units and 4,883 Class B phantom units remain outstanding. On November 16, 2012, USPB’s Board of Directors approved the issuance of an additional 1,500 Class A phantom units, with a strike price of $66.04 and 1,500 Class B phantom units, with a strike price of $73.70, to certain members of management, to be effective on January 28, 2013. These phantom units will vest over a five year period. Compensation expense of $0.0 million, $0.0 million and $0.1 million was recognized in fiscal years 2015, 2014 and 2013, respectively. The Company maintains a tax-qualified employee savings and retirement plan (401(k) Plan) covering the Company’s non-union employees. Pursuant to the 401(k) Plan, eligible employees may elect to reduce their current compensation by up to the lesser of 75% of their annual compensation or the statutorily prescribed annual limit and have the amount of such reduction contributed to the 401(k) Plan. The 401(k) Plan provides for additional matching contributions by the Company, based on specific terms contained in the 401(k) Plan. The trustee of the 401(k) Plan, at the direction of each participant, invests the assets of the 401(k) Plan in designated investment options. The 401(k) Plan is intended to qualify under Section 401 of the Internal Revenue Code. Expenses related to the 401(k) Plan totaled approximately $0.0 million, $0.1 million, and $0.0 million for fiscal years 2015, 2014, and 2013, respectively.

Other Income

Other Income	12 Months Ended
	Dec. 26, 2015
Other income (expense):
Other Income	NOTE 5. Other Income Other non-operating income, net was $0.0 million, $0.2 million, and $0.7 million for fiscal years 2015, 2014 and 2013, respectively. Other non-operating income primarily includes income related to lease income on additional delivery rights made available by the Company.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 26, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 6. Income Taxes USPB is structured as an LLC and is taxed as a partnership for federal income tax purposes. As a result, its taxable income/loss are passed through to the unitholders at the end of each tax year. Certain states assess an entity level tax, which is paid by USPB. Such taxes are generally immaterial, and the current provision in tax years 2015, 2014 and 2013 was $0.0 million.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 26, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 7. Related Party Transactions All of the Company’s directors hold units of the Company. By virtue of their ownership of the units, each of these individuals is obligated to deliver cattle to the Company. The amount and terms of the payments received by these individuals (or the entities they represent) for the delivery of cattle are made on exactly the same basis as those received by other unitholders of the Company for the delivery of their cattle. USPB facilitates the delivery of cattle annually to NBP through its unitholders and associates. During fiscal years 2015, 2014 and 2013, USPB’s owners and associates provided approximately 28%, 23%, and 21%, respectively, of NBP’s total cattle requirements. The purchase price for the cattle is determined by NBP’s pricing grid, which, under the terms of the agreement with USPB, must be competitive with the pricing grids of NBP’s competitors and may not be less favorable than pricing grids offered to other suppliers. At December 26, 2015 and December 27, 2014, the Company had receivables from unitholders and associates in the amount of $0.1 million and $0.1 million, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 26, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 8. Fair Value Measurements The Company determines fair value utilizing a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The fair value hierarchy gives the highest priority to quoted market prices (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of inputs used to measure fair value are as follows: • Level 1 – quoted prices in active markets for identical assets or liabilities accessible by the reporting entity. • Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – unobservable inputs for an asset or liability. Unobservable inputs should only be used to the extent observable inputs are not available. As December 26, 2015 and December 27, 2014, the Company does not carry any assets or liabilities on its consolidated balance sheet using the three-level fair value hierarchy.

Capital Shares and Equities

Capital Shares and Equities	12 Months Ended
	Dec. 26, 2015
Stockholders' Equity Note [Abstract]
Capital Shares and Equities	NOTE 9. Capital Shares and Equities LLC Structure On August 18, 2004, the shareholders of U.S. Premium Beef, Ltd. approved the conversion of the cooperative into a Delaware LLC (Conversion). Under the new ownership structure, each share of common stock of the cooperative was converted to one unit of Class A interest and one unit of Class B interest. Immediately following the Conversion, there were 691,845 Class A units and 691,845 Class B units. For a period of time determined by the board of directors, each Class A unit was linked to its corresponding Class B unit and each pair of linked units was required, if transferred, to be transferred together. On March 27, 2010, the board of directors amended USPB’s LLC Agreement to enable the Class A and Class B units to be transferred separately. Class A Units Class B Units

Legal Proceedings

Legal Proceedings	12 Months Ended
	Dec. 26, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	NOTE 10. Legal Proceedings As of December 26, 2015, USPB was not a party to any lawsuit or claim arising out of the operation of its business.

Business Segments

Business Segments	12 Months Ended
	Dec. 26, 2015
Segment Reporting [Abstract]
Business Segments	NOTE 11. Business Segments ASC 820, Disclosures about Segments of an Enterprise and Related Information

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 26, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	NOTE 12. Quarterly Results (Unaudited) Selected quarterly financial data for fiscal years 2015 and 2014 are set forth below (dollars in thousands, except per unit data): Net (Loss) Income Operating Attributable Basic (Loss) Earnings Per Diluted (Loss) Earnings Per Net Sales (Loss) Income to USPB Class A Unit Class B Unit Class A Unit Class B Unit 2015 quarterly results: March 28, 2015 $ - $ (807 ) $ (5,851 ) $ (0.80 ) $ (6.97 ) $ (0.80 ) $ (6.97 ) June 27, 2015 - (381 ) (1,824 ) $ (0.25 ) $ (2.17 ) $ (0.25 ) $ (2.17 ) September 26, 2015 - (432 ) (5,278 ) $ (0.72 ) $ (6.29 ) $ (0.72 ) $ (6.29 ) December 26, 2015 - (784 ) (8,363 ) $ (1.13 ) $ (9.97 ) $ (1.13 ) $ (9.97 ) $ - $ (2,404 ) $ (21,316 ) 2014 quarterly results: March 29, 2014 $ - $ (984 ) $ (5,064 ) $ (0.69 ) $ (6.03 ) $ (0.69 ) $ (6.03 ) June 28, 2014 - (830 ) 93 $ 0.01 $ 0.11 $ 0.01 $ 0.11 September 27, 2014 - (540 ) 3,517 $ 0.48 $ 4.19 $ 0.48 $ 4.19 December 27, 2014 - (764 ) (7,585 ) $ (1.03 ) $ (9.04 ) $ (1.03 ) $ (9.04 ) $ - $ (3,118 ) $ (9,039 )

Basis of Presentation and Acc20

Basis of Presentation and Accounting Policies (policies)	12 Months Ended
	Dec. 26, 2015
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation As a result of the Leucadia Transaction, which closed December 30, 2011, USPB’s investment in NBP is accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control.
Fiscal Year	Fiscal Year With the closing of the Leucadia Transaction on December 30, 2011, the Company’s fiscal year-end changed from the last Saturday in August to the last Saturday in December. Beginning with fiscal year 2012, the Company will file annual reports for each 52 week or 53 week period ended on the last Saturday in December.
Use of Estimates	Use of Estimates The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, using management’s best estimates and judgments where appropriate. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of December 26, 2015 and December 27, 2014, the Company had cash and cash equivalents of $85.2 million and $92.3 million, respectively.
Investment in National Beef Packing Company, LLC	Investment in National Beef Packing Company, LLC As a result of the Leucadia Transaction, beginning on December 31, 2011, USPB’s 15.0729% investment in NBP accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control. In December 2015, USPB contributed $3.8 million of additional capital to NBP to purchase 33.97 NBP units and maintain its 15.0729% ownership percentage. USPB conducted an evaluation to determine if its investment in NBP was impaired as of the end of the fiscal year in accordance with ASC 323 Investments Equity Method and Joint Ventures. The evaluation included both quantitative and qualitative factors. The quantitative approach computed the fair value of the investment using market based and discounted cash flow valuation approaches, and resulted in a fair value that exceeded the carrying value. As a result of the analysis, USPB concluded that the carrying value of its investment in NBP was not impaired as of December 26, 2015.
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows: Buildings and improvements 15 to 25 years Machinery and equipment 2 to 15 years Furniture and fixtures 3 to 5 years Trailers and automotive equipment 2 to 4 years Upon disposition of these assets, any resulting gain or loss is included in other, net. Major repairs and maintenance costs that extend the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations. A summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows (thousands of dollars): December 26, December 27, 2015 2014 Land and improvements $ - $ - Building and improvements - - Machinery and equipment 24 37 Furniture and fixtures 140 126 Trailers and automotive equipment 59 57 Construction in process - - Total property, plant, and equipment, at cost 223 220 Accumulated depreciation 175 215 Property, plant, and equipment, net $ 48 $ 5 Depreciation expense was immaterial for fiscal years ended December 26, 2015 and December 27, 2014.
Overdraft Balances	Overdraft Balances USPB utilizes a controlled disbursement account to fund cash distribution checks presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are included in patronage notices payable and distributions payable and the change in the related balances are reflected in financing activities on the consolidated statement of cash flows. Overdraft balances totaled $0.1 million and $0.1 million as of December 26, 2015 and December 27, 2014, respectively.
Income Tax	Income Taxes Effective August 29, 2004, the Company converted to an LLC, and under this structure, taxes are not provided at the Company level because the results of operations are included in the taxable income of the individual members.
Selling, General and Administrative	Selling, General, and Administrative Selling expenses consist primarily of salaries, bonuses, phantom unit option expense, trade promotions, advertising, commissions and other marketing costs. General and administrative costs consist primarily of general management, insurance and professional expenses.
Noncompetition Payments	Noncompetition Payments The former CEO’s employment agreement provided for him to receive noncompetition payments in connection with the Leucadia transaction. During calendar years 2015 and 2014, the former CEO was paid $849,911 and $847,334, respectively, in noncompetition payments. He will continue to receive noncompetition payments of approximately $850,000 per year during calendar years 2016 through 2021. The current CEO’s employment agreement provides for him to receive noncompetition payments for a twelve month period following his termination of employment with USPB. As of December 26, 2015 and December 27, 2014, the Company had accrued $4.7 million and $5.5 million, respectively, for the noncompetition agreements.
Earnings Per Unit	Earnings Per Unit Under the LLC structure, earnings of the Company are to be distributed to unitholders based on their proportionate share of underlying equity, and, as a result, earnings per unit (EPU) has been presented in the accompanying Consolidated Statement of Operations and in the table that follows. Basic EPU excludes dilution and is computed by first allocating 10% of net income or loss attributable to USPB to Class A units and the remaining 90% is allocated to Class B units. Net income or loss allocated to the Class A and Class B units is then divided by the weighted-average number of Class A and Class B units outstanding for the period to determine the basic EPU for each respective class of unit. Diluted EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his 20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding. Loss Per Unit Calculation 52 weeks ended (thousands of dollars, except unit and per unit data) December 26, 2015 December 27, 2014 December 28, 2013 Basic loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding units (denominator) Class A 735,385 735,385 735,385 Class B 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 ) Diluted loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding Class A units 735,385 735,385 735,385 Effect of dilutive securities - Class A unit options - - - Units (denominator) 735,385 735,385 735,385 Weighted average outstanding Class B units 755,385 755,385 755,385 Effect of dilutive securities - Class B unit options - - - Units (denominator) 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 )

Basis of Presentation and Acc21

Basis of Presentation and Accounting Policies (Tables)	12 Months Ended
	Dec. 26, 2015
Accounting Policies [Abstract]
Schedule of Property Plant And Equipment Estimated Useful Life	Property, plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows: Buildings and improvements 15 to 25 years Machinery and equipment 2 to 15 years Furniture and fixtures 3 to 5 years Trailers and automotive equipment 2 to 4 years
Schedule of cost and accumulated depreciation for property, plant, and equipment	A summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows (thousands of dollars): December 26, December 27, 2015 2014 Land and improvements $ - $ - Building and improvements - - Machinery and equipment 24 37 Furniture and fixtures 140 126 Trailers and automotive equipment 59 57 Construction in process - - Total property, plant, and equipment, at cost 223 220 Accumulated depreciation 175 215 Property, plant, and equipment, net $ 48 $ 5
Schedule (Loss) income Per Unit Calculation	Diluted EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his 20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding. Loss Per Unit Calculation 52 weeks ended (thousands of dollars, except unit and per unit data) December 26, 2015 December 27, 2014 December 28, 2013 Basic loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding units (denominator) Class A 735,385 735,385 735,385 Class B 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 ) Diluted loss per unit: Loss attributable to USPB available to unitholders (numerator) Class A $ (2,132 ) $ (904 ) $ (1,120 ) Class B $ (19,184 ) $ (8,135 ) $ (10,076 ) Weighted average outstanding Class A units 735,385 735,385 735,385 Effect of dilutive securities - Class A unit options - - - Units (denominator) 735,385 735,385 735,385 Weighted average outstanding Class B units 755,385 755,385 755,385 Effect of dilutive securities - Class B unit options - - - Units (denominator) 755,385 755,385 755,385 Per unit amount Class A $ (2.90 ) $ (1.23 ) $ (1.52 ) Class B $ (25.40 ) $ (10.77 ) $ (13.34 )

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 26, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of selected quarterly financial data for fiscal years	Selected quarterly financial data for fiscal years 2015 and 2014 are set forth below (dollars in thousands, except per unit data): Net (Loss) Income Operating Attributable Basic (Loss) Earnings Per Diluted (Loss) Earnings Per Net Sales (Loss) Income to USPB Class A Unit Class B Unit Class A Unit Class B Unit 2015 quarterly results: March 28, 2015 $ - $ (807 ) $ (5,851 ) $ (0.80 ) $ (6.97 ) $ (0.80 ) $ (6.97 ) June 27, 2015 - (381 ) (1,824 ) $ (0.25 ) $ (2.17 ) $ (0.25 ) $ (2.17 ) September 26, 2015 - (432 ) (5,278 ) $ (0.72 ) $ (6.29 ) $ (0.72 ) $ (6.29 ) December 26, 2015 - (784 ) (8,363 ) $ (1.13 ) $ (9.97 ) $ (1.13 ) $ (9.97 ) $ - $ (2,404 ) $ (21,316 ) 2014 quarterly results: March 29, 2014 $ - $ (984 ) $ (5,064 ) $ (0.69 ) $ (6.03 ) $ (0.69 ) $ (6.03 ) June 28, 2014 - (830 ) 93 $ 0.01 $ 0.11 $ 0.01 $ 0.11 September 27, 2014 - (540 ) 3,517 $ 0.48 $ 4.19 $ 0.48 $ 4.19 December 27, 2014 - (764 ) (7,585 ) $ (1.03 ) $ (9.04 ) $ (1.03 ) $ (9.04 ) $ - $ (3,118 ) $ (9,039 )

Description of Business (Detail

Description of Business (Details Textual)	Feb. 28, 1998	Dec. 01, 1997
Farmland National Beef Packing Co., L.P. (FNB)
Percentage membership owned by company	28.7866%	25.4966%
Percentage of additional membership owned by company	3.29%
Farmland Industries, Inc. (Farmland)
Remaining total percentage membership owned by company	71.2134%

Description of Business (Deta24

Description of Business (Details Textual 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013	Dec. 30, 2011	Dec. 05, 2011
Description of Business
Leucadia to purchase of the membership interests in NBP					56.2415%
Leucadia to purchase of the membership interests in NBP from the Company					$ 646,777,342
National Interests from NBPCo Percent					19.8775%
National Interests from NBPCo for value					$ 228,591,527
Pursuant to pre-existing put rights, NBP to purchase from TKK and TMKCo					$ 75,946,955
Leucadia to sell to TMK Holdings					0.6522%
Leucadia to sell to TMK Holdings of the National Interests					$ 7,500,000
Leucadia Transaction, the parties owned the following percentage membership interests in NBP:
Leucadia					78.9477%
USPB	15.0729%				15.0729%
NBPCo					5.3272%
TMK Holdings					0.6522%
NBP's market share ownership	12.50%
NBP number of employees	8,400
NBP's revenue	$ 7,400
NBP's revenue percentage	91.00%
Base amount				$ 735,385
Increase the number of cattle percentage	10.00%	10.00%	10.00%
Cattle requirements provided by NBP's percentage	28.00%	23.00%	21.00%

Basis of Presentation and Acc25

Basis of Presentation and Accounting Policies (Details)	12 Months Ended
	Dec. 26, 2015
Accounting Policies [Abstract]
Buildings and improvements	15 to 25 years
Machinery and equipment	2 to 15 years
Furniture and fixtures	3 to 5 years
Trailers and automotive equipment	2 to 4 years

Summary of cost and accumulated

Summary of cost and accumulated depreciation for property, plant, and equipment (Details 1) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Accounting Policies [Abstract]
Land and improvements	$ 0	$ 0
Building and improvements	0	0
Machinery and equipment	24	37
Furniture and fixtures	140	126
Trailers and automotive equipment	59	57
Construction in process	0	0
Total property, plant, and equipment, at cost	223	220
Accumulated depreciation	175	215
Property, plant, and equipment, net	$ 48	$ 5

Net income attributable to non-

Net income attributable to non-controlling interest (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Class A Unit [Member]
Basic loss per unit:
Basic loss attributable to USPB available to unitholders (numerator)	$ (2,132)	$ (904)	$ (1,120)
Weighted average outstanding units (denominator)	735,385	735,385	735,385
Per unit amount	$ (2.90)	$ (1.23)	$ (1.52)
Diluted loss per unit:
Diluted loss attributable to USPB available to unitholders (numerator)	$ (2,132)	$ (904)	$ (1,120)
Weighted average outstanding
Basic	735,385	735,385	735,385
Effect of dilutive securities
Weighted average outstanding units (denominator)	735,385	755,385	755,385
Per unit amount	$ (2.90)	$ (1.23)	$ (1.52)
Class B Unit [Member]
Basic loss per unit:
Basic loss attributable to USPB available to unitholders (numerator)	$ (19,184)	$ (8,135)	$ (10,076)
Weighted average outstanding units (denominator)	755,385	755,385	755,385
Per unit amount	$ (25.40)	$ (10.77)	$ (13.34)
Diluted loss per unit:
Diluted loss attributable to USPB available to unitholders (numerator)	$ (19,184)	$ (8,135)	$ (10,076)
Weighted average outstanding
Basic	755,385	755,385	755,385
Effect of dilutive securities
Weighted average outstanding units (denominator)	755,385	755,385	755,385
Per unit amount	$ (25.40)	$ (10.77)	$ (13.34)

Basis of Presentation and Acc28

Basis of Presentation and Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013	Dec. 29, 2012	Dec. 05, 2011
Cash and cash equivalents	$ 85,220	$ 92,344	$ 59,812	$ 62,683
Additional capital to NBP	$ 3,800
USPB	15.0729%				15.0729%
Overdraft balances	$ 100	100
Accrued noncompetition agreements	$ 4,700	5,500
Class A Unit [Member]
Net income or loss attributable to USPB	10.00%
CEO exercised Class A phantom units	20,000
Class B Unit [Member]
Net income or loss attributable to USPB	90.00%
CEO [Member]
Non competition payments	$ 849,911	$ 847,334

Long-Term Debt and Loan Agree29

Long-Term Debt and Loan Agreements Master Loan Agreement (Details Textual) - USD ($) $ in Thousands	May. 29, 2014	Dec. 26, 2015
Debt Disclosure [Abstract]
Revolving Term Loan Supplement provide for revolving credit commitment	$ 5,000
Reduction of line of credit	$ 10,000
Available revolving credit commitment		$ 5,000

Long-Term Debt and Loan Agree30

Long-Term Debt and Loan Agreements Capital and Operating Leases (Details Textual 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Debt Disclosure [Abstract]
Rent expense associated with operating leases	$ 100	$ 100	$ 100

Employee Options and Benefit 31

Employee Options and Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013	Dec. 31, 2014	Nov. 16, 2012	Sep. 30, 2010
Compensation expense	$ 0	$ 0	$ 1,400
Management phantom plan compensation expense	0	0	500
Compensation expense recognized	$ 0	0	100
Vesting period	5 years
Expenses related to Plan	$ 0	$ 0	$ 100
Phantom Class A units [Member]
Phantom options issued to CEO and CFO (1,000 and 500 respectively)					1,500
Exercise price of shares issued					$ 66.04
Number of stock options issued to CEO	20,000					5,000
Exercise price of shares converted into unit	$ 55					$ 118
Units forfeited not vested				50
Units outstanding.				4,883
Phantom Class B units [Member]
Phantom options issued to CEO and CFO (1,000 and 500 respectively)					1,500
Exercise price of shares issued					$ 73.70
Number of stock options issued to CEO	20,000					5,000
Exercise price of shares converted into unit	$ 0					$ 157
Units forfeited not vested				50
Units outstanding.				4,883
Phantom Class A Units 1 [Member]
Number of shares exercised by CEO	20,000
Exercise price of shares exercised by CEO	$ 55					0
Phantom Class B Units 1 [Member]
Number of shares exercised by CEO	20,000
Exercise price of shares exercised by CEO	$ 0					$ 0
Stock Options [Member]
Phantom options issued to CEO and CFO (1,000 and 500 respectively)	20,000
Exercise price of shares issued	$ 55

Other Income (Details Textual)

Other Income (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Other income (expense):
Other non-operating income, net	$ 0	$ 200	$ 700

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Income Tax Disclosure [Abstract]
Income tax expense	$ (1)	$ (2)	$ (3)

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Related Party Transactions [Abstract]
Total cattle requirements provided by USPB’s owners and associates to NBP, percentage	28.00%	23.00%	21.00%
Receivables from unitholders and associates	$ 100	$ 100

Capital Shares and Equities Cla

Capital Shares and Equities Class Units (Details)	Aug. 18, 2004shares
Number of convertible securities available for transfer:
Class A units	691,845
Class B units	691,845

Capital Shares and Equities (Li

Capital Shares and Equities (Limited liability company agreement) (Details)	Nov. 09, 2010	Aug. 18, 2004
Class A units
Percentage of profits and losses to receive distributions of net cash flow on pro rata basis	10.00%	33.00%
Class B units
Percentage of profits and losses to receive distributions of net cash flow on pro rata basis	90.00%	67.00%

Quarterly Results (Unaudited)37

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Quarterly Financial Information Disclosure [Abstract]
Net Sales
Operating (Loss) Income	$ (784)	$ (432)	$ (381)	$ (807)	$ (764)	$ (540)	$ (830)	$ (984)	$ (2,404)	$ (3,118)	$ (5,370)
Net (Loss) Income Attributable to USPB	$ (8,363)	$ (5,278)	$ (1,824)	$ (5,851)	$ (7,585)	$ 3,517	$ 93	$ (5,064)	$ (21,316)	$ (9,039)	$ (11,196)
Basic (Loss) Earnings Per
Class A Unit	$ (1.13)	$ (0.72)	$ (0.25)	$ (0.80)	$ (1.03)	$ 0.48	$ 0.01	$ (0.69)
Class B Unit	(9.97)	(6.29)	(2.17)	(6.97)	(9.04)	4.19	0.11	(6.03)
Diluted (Loss) Earnings Per
Class A Unit	(1.13)	(0.72)	(0.25)	(0.80)	(1.03)	0.48	0.01	(0.69)
Class B Unit	$ (9.97)	$ (6.29)	$ (2.17)	$ (6.97)	$ (9.04)	$ 4.19	$ 0.11	$ (6.03)