Transcode .m3u8 video to rtmp server

[kjvnasa]

Well its pretty much in the title. I would like to take a live .m3u8 url stream and transcode it on my pc so I can output it to an rtmp server.
For example Here I have an .m3u8 link:

http://iphone-streaming.ustream.tv/ustreamVideo/6540154/streams/live/playlist.m3u8

And I would like to take that stream and transcode it so I can output it to an FMS URL like:

rtmp://live.servername.com/example

Using a stream code like:

2b1a3286605083*****2

Any help is greatly appreciated.
Thanks in advance,
Kjvnasa