As could be expected, the National Pork Producers Council is happy with USDA's decision to make an additional purchase of up to $25 million of pork products. Those products will be donated to child nutrition and other domestic food-assistance programs. NPPC says these additional purchases will help U.S. pork producers weather an economic crisis in the hog industry.
NPPC President Don Butler said, this move will not onlybenefit America's pork producers, the U.S. economy and the people who rely on the government's various food programs, but it will also help the industry bring supply and demand closer into balance and allow producers to continue to provide consumers with economical, nutritious pork.
According to NPPC data, over the past 18 months the crisis in the pork industry has cost the industry more than $3 billion in equity. Since October 2007 producers have lost an average of $20 a head on each hog marketed.
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