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): ~~June 24~~July 7, ~~2005~~2006

Premium Standard Farms, Inc.

(Exact name of Registrant as Specified in its Charter)

Delaware (State or other jurisdiction of Incorporation)

(State or other jurisdiction of Incorporation)


000-51347 (Commission File Number)		43-1755411 (I.R.S. Employer Identification No.)

805 Pennsylvania Avenue, Suite 200, Kansas City, Missouri (Address of principal executive offices)		64105 (Zip Code)

333-64180		43-1755411
(Commission File Number)		(I.R.S. Employer Identification No.)

(816) 472-7675
(Registrant’s telephone number, including area code)

805 Pennsylvania Avenue, Suite 200, Kansas City, Missouri		64105
(Address of principal executive offices)		(Zip Code)

N/A
(Former name or former address, if changed since last report)

(816) 472-7675

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Item 1.01. Entry into a Material Definitive Agreement Item 25.0302. ~~Creation~~Departure of aDirectors ~~Direct Financial Obligation~~ or anPrincipal ~~Obligation~~Officers; ~~under~~Election anof ~~Off-Balance~~Directors; ~~Sheet~~Appointment ~~Arrangement~~ of aPrincipal ~~Registrant~~Officers Item 9.01. Financial Statements, ~~Pro Forma Financial Information~~ and Exhibits SIGNATURES ~~Second~~Exhibit ~~Amended~~Index ~~and~~Separation ~~Restated~~Agreement ~~Loan~~Press ~~and Security Agreement~~Release

Item 1.01. Entry into a Material Definitive Agreement.

On ~~June~~July 247, ~~2005~~2006, Premium Standard Farms, Inc. (the “~~Premium~~Company”), ~~Lundy~~entered ~~International,~~into ~~Inc.,~~ a Separation ~~wholly-owned~~Agreement ~~subsidiary~~with ofMr. Robert ~~Premium (“Lundy”), and LPC Transport, Inc~~W., aManly ~~wholly-owned subsidiary of Premium (“LPC”) (Premium~~which, ~~Lundy~~among ~~and~~other ~~LPC are collectively referred to herein as the “Borrowers”)~~things, ~~entered~~ ~~into~~amended the ~~Second~~noncompetition ~~Amended and Restated Loan and Security Agreement (the “Agreement”) with the~~provisions ~~financial institutions listed on the signature pages~~ of ~~the~~his ~~Agreement~~employment ~~(the “Lenders”) and U~~agreement.S. ~~Bank National~~A ~~Association,~~copy asof ~~a Lender and agent for~~ the ~~Lenders.~~Separation ~~The~~ Agreement ~~amends~~is ~~and~~filed ~~restates~~as ~~the Amended and Restated Loan and Security Agreement, dated April~~Exhibit 9,10.1 ~~2004, by and among the foregoing parties~~hereto.

~~The Agreement, among other things, decreases the Borrowers’ five-year line of credit with the Lenders from $220~~Item ~~million to $175 million~~5. In addition, the Agreement establishes a term loan from the participating Lenders for $125 million, payable in equal quarterly principal payments of $1,250,000 commencing on November 9, 2007, with a maturity date of May 9, 201502. ~~This~~Departure ~~term loan is secured, along with the loans under the Borrowers’ existing line~~ of ~~credit,~~Directors byor ~~liens~~Principal ~~on substantially~~Officers; ~~all~~Election of ~~our assets. In connection with this term loan, we have entered into a~~ ~~ten-year,~~Directors; ~~$125 million~~Appointment ~~swap agreement as~~ of ~~May 9,~~Principal ~~2005, which converts the interest on the term loan to an effective fixed interest rate of approximately 5~~Officers.~~9%. Management believes the line of~~ ~~credit and term loan are adequate to finance working capital, capital expenditures and general corporate requirements during the period.~~

AOn ~~copy~~July 7, 2006, Robert W. Manly resigned as President and Chief Operating Officer of the Company. ~~Agreement~~The isCompany ~~attached~~appointed ~~hereto~~John M. Meyer, 44, to serve as ~~Exhibit~~the new President of the Company on July 107, 2006 in addition to continuing his service as the Company’s Chief Executive Officer.1 A copy of a press release announcing these developments, as well as the additional organizational changes relating to ~~this~~the ~~Current~~expansion ~~Report~~of onthe ~~Form~~responsibilities ~~8-K~~of Mr. Calvin Held to Vice President of Process Improvement and ~~incorporated~~Milan ~~herein~~Operations byand ~~reference~~Mr. Blake Day to Vice President of Business Development, is filed as Exhibit 99.1 hereto.

Item 2 9.0301. ~~Creation of a Direct~~ Financial ~~Obligation~~Statements orand ~~an Obligation under an Off-Balance Sheet Arrangement of a Registrant~~Exhibits.

~~See Item 1.01~~ (~~Entry into a Material Definitive Agreement~~d) ~~of this Current Report on Form 8-K, which is incorporated herein by reference~~ Exhibits.

Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.


Exhibit No.		Exhibit Description

10.1		Separation Agreement with Robert W. Manly, dated July 7, 2006

99.1		Press Release, dated July 7, 2006

(c) Exhibits.Table Theof following exhibit is filed herewith: Contents

~~10.1 Second Amended and Restated Loan and Security Agreement, by and among the Borrowers and the Lenders.~~SIGNATURES

~~Table~~ Pursuant to the requirements of ~~Contents~~the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SIGNATURES



	PREMIUM STANDARD FARMS, INC.

Date: July 10, 2006	By:	/s/ Steven A. Lightstone

		Steven A. Lightstone
		Executive Vice President, Chief Financial Officer and Treasurer

PursuantTable 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, hereunto duly authorized. Contents

	PREMIUM STANDARD FARMS, INC.
Date: June 29, 2005	By:	/s/ Stephen A. Lightstone
		Stephen A. Lightstone
		Printed Name
		Chief Financial Officer
		Title

Exhibit Index


Exhibit No.		Exhibit Description

10.1		Separation Agreement with Robert W. Manly, dated July 7, 2006

99.1		Press Release, dated July 7, 2006

Table of Contents

Table of Contents

(c) Exhibits.Table Theof following exhibit is filed herewith: Contents

PursuantTable 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, hereunto duly authorized. Contents

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