Using funds from its Commodity Credit Corporation, the U.S. Department of Agriculture (USDA) announced it is purchasing an additional 33.5 million pounds of pork. The more than $78.6 million buy is for pork products for distribution to various food nutrition and assistance programs.
The National Pork Producers Council (NPPC) applauded the USDA purchase and says the organization will continue working with the agency to identify additional opportunities to find support for U.S. pork producers during challenging market conditions. The U.S. pork industry has faced a challenging economic market over the past 18 months, with producers losing an average of $30 and sometimes $40 to $60 on each hog marketed in 2023.
NPPC says these pork purchases provide much-needed support to the hog and wholesale pork markets and secure affordable, nutritious pork products for USDA recipient programs.
Earlier this year, the USDA bought $25 million of pork under Section 32 of the Agricultural Adjustment Act of 1935, which authorizes the Secretary of Agriculture to make commodity purchases, entitlement purchases, and disaster assistance using funds appropriated annually from U.S. customs receipts.