In a move to shore up America's basement-level live-hog prices, National Farmers Organization is requesting USDA Secretary Ann Veneman to purchase pork through its government food programs.
By purchasing pork, the government could assist in reducing pork supply and alleviate downward price pressure. says NFO President Paul Olson. "The nation's current hog price situation mirrors that of 1998's disaster."
Live-hog prices recently dropped by 25 percent.
Currently, producers receive approximately $49 for a 245 pound hog. In comparison, consumers paid $264.20– or approximately 5 times as much money– for the same animal in July, points out an NFO news release.
"USDA's pork-purchase program represents a winning combination for those who benefit from government food programs, and pork producers who are struggling financially," says Olson.
National Farmers Organization news release