The USDA is increasing the amount of funding available for the Spot Market Hog Pandemic Program. They expect to issue over $62 million in pandemic assistance payments to hog producers starting this week. Payments are calculated by multiplying the number of head of eligible hogs by the rate of $54 per head. This is in response to a reduction in packer production due to the COVID 19 pandemic, which resulted in fewer negotiated hogs being procured and subsequent lower market prices. The program is part of USDA’s broader pandemic assistance for producers initiative and addresses gaps in previous assistance for hog producers.
The program assists producers who sold hogs through Spot Market Sale from April 6, 2020 through September 2, 2020. USDA officials say they are pleased to be able to provide more equitable opportunities for hog producers who were hardest hit by the pandemic.
