INDIANA – The U.S. Department of Agriculture is increasing the amount of funding available for the Spot Market Hog Pandemic Program and expects to issue approximately $62.8 million in pandemic assistance payments to hog producers starting this week.
The program assists eligible producers who sold hogs through a spot market sale from April 16, 2020, through Sept. 1, 2020. USDA’s Farm Service Agency accepted SMHPP applications through April 29, 2022.
FSA Administrator Zach Ducheneaux says In order to provide more targeted support to hog producers affected by the pandemic.
FSA was able to increase funding for Spot Market Hog Program to provide full payments to producers instead of applying a payment factor.
The payments will be calculated by multiplying the number of head of eligible hogs, not to exceed 10,000 head, by the payment rate of $54 per head.