The USDA is increasing the amount of funding available for the Spot Market Hog Pandemic Program and expects to issue approximately $62.8 million in assistance payments to producers this week.
SMHPP assists eligible producers who sold hogs through a spot market sale between April 16 and September 1 in 2020.
“In order to provide more targeted support to hog producers affected by COVID-19, FSA was able to increase funding for SMHPP to provide full payments instead of applying a payment factor,” says FSA Administrator Zach Ducheneaux. “We’re happy to be able to provide more equitable assistance for hog producers hit hard by the pandemic.”
Terry Wolters, president of the National Pork Producers Council, says they appreciate FSA’s commitment assisting those pork producers hit by the economic disruptions. “Producers forced into spot market hog sales are still challenged by those market disruptions, so this will help in the recovery,” he says.