The government will send up to $50 million to hog farmers who were forced to sell hogs at pandemic-depressed prices on the spot market during the summer of 2020, said the Agriculture Department on Monday. The announcement came a month after the USDA said it was disbursing $270 million to contract growers of hogs and poultry through its Pandemic Assistance for Producers initiative.
Hog farmers made a record profit of nearly $70 a hog this spring and are on track for much larger profits this summer, says economist Chris Hurt of Purdue University at farmdoc daily. He says "third quarter profits are expected to be over $100 per head due to continued high market prices and declining feed costs. Hog farmers have been slow to expand their herds, so the the supply of slaughter hogs remains tight.
Groups representing soybean, corn and hog farmers in Iowa formed an alliance to encourage farmers in the Hawkeye state to voluntarily reduce nutrient runoff, said DTN.
Porcine Epidemic Diarrhea Virus was discovered in Vermont this week, meaning the disease has hit 28 states, says DTN.