Pork producers face financial crisis amid COVID-19 outbreak

Pork producers face financial crisis amid COVID-19 outbreak

The National Pork Producers Council says COVID-19 has
created a financial disaster for the pork industry and US pork producers could
face up to $5 billion in collective losses over the remainder of the year.

Wisconsin pork producer AV Roth is president of NPPC.  “An analysis by Dr. Dermot Hayes, an
economist with Iowa State University and Dr. Steve Meyer an industry economist projects
that hog farmers will lose $37 per hog marketed,” he says. 

Pork processing plants are suspending operations, which limits slaughter capacity, creating a surplus of pigs.

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