Sixty-three members of the House of Representatives joined 32 members of the United States Senate in urging Secretary of Agriculture Tom Vilsack to take immediate action to assist the pork industry in the wake of the negative impact caused by the H1N1 virus outbreak.
The lawmakers note that a typical producer with 1,500 sows who sells 30,000 pigs per year will have lost $1.07 million since monthly losses began in October 2007. Based on U.S.D.A. data and September 1 futures prices, that same producer stands to lose $20.14, $30.16, $38.22, $45.60 and $39.21 for each hog sold in August through December, respectively. Selling 2,500 hogs per month means an additional loss of $433,329 by year's end.
The letter requests that the Secretary take the following actions to provide emergency relief to the industry.
Source: AMI - American Meat Institute