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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Quantum of Hog Producers’ Losses Now Apparent

07/23/2020

Dr. Steve Meyer, an economist with Kerns and Associates recently calculated that losses attributed to declining prices between March 1st and July 10th represented $4.7 billion to U.S. hog farmers. Meyer estimates that U.S. pork producers have lost $5 billion in actual and potential profits during 2020 taking into account costs of euthanasia and disposal of hogs.

 

Senators representing pork-producing states have introduced the RELIEF Act active 2020 to compensate farmers who have euthanized or donated animals as a result of COVID-19.

 

Howard Roth, the President of the National Pork Producers Council commented, "it is imperative that Congress act now, or else thousands of farmers could go out of business leading to consolidation and contraction of the U.S. pork industry".  Although pork plants are approaching pre-COVID levels of production, any additional closures as a result of COVID-19 would add to the approximately two million hogs backed up on farms especially in the Midwest.


 
Copyright © 2020 Simon M. Shane