When you take a picture with your dslr in jpg mode, the raw goes through ColorMatrix, ForwardMatrix, LookTable and ToneCurve. That's what these LUTs do.
These should be applied in a specific order, since we can only apply one LUT and not 4 LUTs after each other in order, we can't get 100% match, but it's damn close.
I always take a color checker reference picture. This way I can control if the linear raw + LUT will match the camera JPG.
Here is one of my older Canon control tests.
Linear RAW converted to sRGB.
![](http://i.imgur.com/KBRQgSk.jpg)
JPG from Camera
![](http://i.imgur.com/bzgowtx.jpg)
RAW + LUT (When you use dcraw to make a proper linear raw, it does not denoise the picture, so you will see noise on some colors, like purple)
![](http://i.imgur.com/JWFgwRn.jpg)
Hope that helps you understand whats going on with these LUTs :)