NATIONAL BEEF PACKING CO LLC
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<TYPE>EX-10.4D
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<title>Exhibit 10.4(d)</title>
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<p align=right style='text-align:right;text-autospace:none'><b><font size="2">EXHIBIT
10.4(d)</font></b></p>





<p align=right style='text-align:right;text-autospace:none'>&nbsp;</p>





<p align=center style='text-align:center'><b><u><font size="2">WAIVER AND
CONSENT</font></u></b></p>



<p style='text-align:justify;text-indent:.5in'><font size="2">This Waiver and
Consent (&quot;<b>Waiver</b>&quot;) is made as of October 6, 2004, by and among NATIONAL
BEEF PACKING COMPANY, LLC, a<b> </b>Delaware limited liability company,
successor by conversion to Farmland National Beef Packing Company, L.P., a<b> </b>Delaware
limited partnership (the &quot;<b>Borrower</b>&quot;), U.S. BANK NATIONAL ASSOCIATION, a
national banking association (&quot;<b>U.S. Bank</b>&quot;), in its capacity as Agent for
the Lenders (in such capacity, the &quot;<b>Agent</b>&quot;) and as one of the Lenders,
and the other financial institutions signatory hereto (together with U.S. Bank,
being at least the Required<b> </b>Lenders).</font></p>

<p align=center style='text-align:center'><b><font size="2">RECITAL</font></b></p>



<p style='text-align:justify;text-indent:.5in'><font size="2">This Waiver is
made with respect to the Third Amended and Restated Credit Agreement made as of
August 6, 2003 (as amended, modified, supplemented, renewed or restated from
time to time, the &quot;<b>Agreement</b>&quot;).&nbsp; Capitalized terms that are not
defined in this Waiver shall have the meanings assigned to them in the
Agreement.&nbsp; A Matured Default has occurred.&nbsp; The Borrower has requested
that the Lenders waive the Matured Default. </font> </p>



<p style='text-align:justify;text-indent:.5in'><font size="2">NOW, THEREFORE,
in consideration of the foregoing and of the terms and conditions contained
herein, and of any loans or extensions of credit or other financial accommodations
heretofore, now or hereafter made to or for the benefit of Borrower, the
parties agree as follows:</font></p>



<p style='text-align:justify;text-indent:.5in'><font size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of the fiscal quarter ended August 28, 2004, Borrower's four-quarter rolling
EBITDA of $89,400,653 was less than the $92,000,000 four-quarter rolling EBITDA
required under <u>Section 9.6(c)</u> of the Agreement.&nbsp; This resulted in
the occurrence of a Matured Default when the failure to comply with said <u>Section
9.6(c)</u> was not cured within the thirty-day grace period following August
28, 2004.&nbsp; This Matured Default is referred to in this Waiver as the
&quot;Subject Matured Default&quot;.&nbsp; The Lenders hereby consent to the Subject
Matured Default and waive their rights powers and remedies with respect to the
Subject Matured Default.&nbsp; Notwithstanding the foregoing consent and
waiver, it is expressly understood and agreed that the Lenders shall have the
right at all times hereafter to require strict performance by Borrower of all
terms of the Agreement or any other Financing Document, including without
limitation, the terms of <u>Section 9.6(c)</u> of the Agreement, that the
Lenders do not waive, affect or diminish any right, power or remedy of the
Lenders under the Agreement or any other Financing Document except as expressly
set forth herein with respect to the Subject Matured Default and that except as
expressly set forth herein with respect to the Subject Matured Default, the
Agreement and each other Financing Document shall continue in full force and
effect in accordance with their respective terms.</font></p>



<p><font size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Waiver may be executed in several counterparts, each of which shall be
construed together as one original.&nbsp; Facsimile signatures on this Waiver
shall be considered as original signatures.</font></p>



<p style='text-indent:0in'><b><font size="2">{SIGNATURE PAGES TO
FOLLOW}</font></b></p>



<p style='text-indent:0in'>&nbsp;</p>



<p style='text-indent:0in' align="center"><font size="2">1</font></p>

<hr color="#000080"> <p style="page-break-after: always"></p>
<p>&nbsp;</p>



<p style='text-align:justify;text-indent:.5in'><font size="2">IN WITNESS
WHEREOF, the parties hereto have executed this Waiver and Consent as of the day
and year first herein above written.</font></p>

<p style='margin-left:3.5in;text-align:justify'><b><font size="2">NATIONAL
BEEF PACKING<br>
COMPANY, LLC</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Jay Nielsen&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;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Chief Financial Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font> </u></b></p>

<p><b><font size="2">&nbsp;</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">U.S. BANK NATIONAL ASSOCIATION</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Alan V. Schuler&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Senior Vice President
</font> </u></b></p>

<p style='margin-left:3.5in'><b><font size="2">&nbsp;</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">COBANK, ACB</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Jeff Liggett&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;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>

<p><b><font size="2">&nbsp;</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">CO&#214;PERATIEVE CENTRALE <br>
RAIFFEISEN-BOERENLEENBANK <br>
B.A., &quot;RABOBANK <br>
INTERNATIONAL&quot;, NEW YORK
<br>
BRANCH</font></b></p>



<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="753" id="AutoNumber1">
  <tr>
    <td width="335"><font size="2"><b>By: <u>/s/ D. Shane Bownds&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <br>
    </u>Its: <u>Vice President&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; </u></b>
</font>
    </td>
    <td width="418"><b><font size="2">By:
</font>
<u><font size="2">/s/ Rebecca O. Morrow&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its:
</font>
    <font size="2">
<u>Executive Director&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>
</font> </b></td>
  </tr>
</table>



<p>&nbsp;</p>



<p style='margin-left:3.5in'><b><font size="2">FARM CREDIT SERVICES OF
<br>
MINNESOTA VALLEY, PCA, DBA FCS <br>
COMMERCIAL FINANCE GROUP </font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Lisa Caswell&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;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Commercial Loan Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font> </u></b></p>

<p><b><font size="2">&nbsp;</font></b></p>

<p style='margin-left:3.0in;text-indent:.5in'><b><font size="2">AGFIRST FARM
CREDIT BANK </font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Bruce B. Fortner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>



<p><b><font size="2">{SIGNATURE PAGE TO WAIVER AND CONSENT / October 6,
2004}</font></b></p>



<p>&nbsp;</p>



<p align="center"><font size="2">2</font></p>

<hr color="#000080"> <p style="page-break-after: always"></p>
<p>&nbsp;</p>






<p style='margin-left:3.0in;text-indent:.5in'><b><font size="2">AMARILLO
NATIONAL BANK </font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Leonard Herrington&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>



<p style='margin-left:3.0in;text-indent:.5in'>&nbsp;</p>



<p style='margin-left:3.5in'><b><font size="2">U.S. AGBANK,
FCB F/K/A<br>
FARM CREDIT BANK OF WICHITA, <br>
AS
DISCLOSED AGENT</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Greg Sommerhalder&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>

<p style='margin-left:3.5in'>&nbsp;</p>

<p style='margin-left:3.5in'><b><font size="2">FARM CREDIT SERVICES OF
<br>
AMERICA, PCA</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Bruce Rouse&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;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>

<p style='margin-left:3.0in;text-indent:.5in'>&nbsp;</p>

<p style='margin-left:3.0in;text-indent:.5in'><b><font size="2">FIRST NATIONAL BANK OF OMAHA</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: </font> <u><font size="2">/s/ Wade H. Horton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">Its: </font> <u><font size="2">Vice President&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;
</font> </u></b></p>

<p>&nbsp;</p>

<p style='margin-left:3.0in;text-indent:.5in'><b><font size="2">ING CAPITAL LLC</font></b></p>

<p style='margin-left:3.5in'><b><font size="2">By: <u>__________________________</u>
<br>
Its: </font> <u><font size="2">__________________________</font></u></b></p>

<p><b><font size="2">&nbsp;</font></b></p>

<p><b><font size="2">{SIGNATURE PAGE TO WAIVER AND CONSENT / October 6,
2004}</font></b></p>







<p>&nbsp;</p>







<p>&nbsp;</p>







<p align="center"><font size="2">3</font></p>







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