The deadline for pork producers to submit applications for the USDA Spot Market Hog Pandemic Program (SMHPP) originally was today, February 25th. But, the signup has been extended until April 15th.
The program assists producers who sold hogs through a spot market sale between April 16 and September 1 of 2020. USDA notes that during those months, producers faced the greatest reduction in market prices due to the Covid-19 pandemic, so they are offering SMHPP in response to a reduction in packer production and supply chain issues due to COVID-19. The pandemic resulted in fewer negotiated hogs getting procured by processors and lower market prices.
FSA Administrator Zach Ducheneaux said, “In response to stakeholder feedback and our program analysis, we’ll be making adjustments to clarify the definition of a spot market sale and to hog eligibility while including documentation requirements to prevent erroneous payments.
To learn more and signup for this program, go to farmers.gov/smhpp.