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U.S., Canadian Herds have Stabilized
Last week’s hog report from Statistics Canada indicated that the decline in the Canadian breeding herd may finally be ending.
As of Jan. 1, Canada’s breeding herd numbered 1.314 million head (Figure 1). That is still smaller than one year ago by 1.4% (Figure 2), but is slightly larger than the Oct. 1 inventory of 1.307 million head.
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Are Pork Producers Making a Lot of Money?
This is the question I was asked over the weekend by a person that is not familiar with our industry. I was running next to him on a treadmill, trying to pound out some miles and longing for the days of being able to run outside after a long Minnesota winter. I looked at him and said, “No, actually, the last 2-3 months the average producer probably lost some money and, maybe, at best broke even.”
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Direct Payment Cuts Proposed in FY '12 Budget
President Barack Obama sent to Congress his proposed $3.7 trillion budget for fiscal year 2012. The administration estimates that the proposal will result in a $1.1 trillion deficit for FY ’12, compared to an estimated deficit of $1.6 billion for FY 2011. The administration is proposing to freeze non-defense discretionary funds for five years. USDA’s proposed budget is $144 billion, which includes $116 billion in mandatory expenditures and $23.9 billion in discretionary spending. Discretionary spending is reduced by 7% compared to FY ’11. The administration is proposing a reduction in direct payments and tightening eligibility for direct payments and price supports. In addition, the administration proposed lowering the maximum annual direct payment to $30,000 from the current $40,000. The budget also proposes a three-year, phased reduction in annual gross income (AGI) eligibility limits from the current $500,000 of non-farm AGI to $250,000, and the farm AGI limit for eligibility for direct payments would be reduced from the current $750,000 to $500,000. These items were proposed by the administration last year. Other items in the budget include:
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Market Development Program Funding at Risk
Representative Scott Garrett (R-NJ) recently introduced an amendment to eliminate funding for the Market Access Program (MAP) in the FY 2011 budget’s Continuing Resolution, which is currently being deliberated on the floor of the House of Representatives, according to a recent edition of the U.S. Grains Council’s (USGC) Global Update. Elimination of MAP funding was called for by the Simpson/Bowles Deficit Reduction Commission and the Republican Study Committee comprised of 175 House Republicans.
“As Congress continues its fiscal policy debate, the threat to both MAP and Foreign Market Development (FMD) and the future of the U.S. Grains Council has never been more real,” explains the Global Update article. MAP and FMD program funds are used to leverage USGC resources for international market development.
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Feb. 22 and March 1: Employee Management Workshop for Agricultural Operations (three-part workshop), Northwestern Iowa Community College Sheldon, IA; for more information contact: Russ Euken, extension livestock specialist, by phone (641) 923-2856 or e-mail reuken@iastate.edu or Mark Storlie, swine field specialist, by phone (563) 425-3331 or e-mail mstorlie@iastate.edu.
Feb. 23, 2011: Nebraska Pork Industry Day and Expo, Cornhusker Marriott Hotel Lincoln, NE; for more information contact: Nebraska Pork Producers Association at (888) 627-7675.
Feb. 24, 2011: Michigan Professional Pork Producers Symposium, The Lansing Center, Michigan State University; Lansing. For more information contact: Mary Kelpinski at the Michigan Pork Producers Association at (517) 699-2145 or kelpinski@mipork.org or visit www.mipork.org.
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The Strategic Investment Program (SIP) is the primary source of funds for the National Pork Producers Council. As an investor, you will help NPPC fight for reasonable legislation and regulation, develop revenue and market opportunities and protect livelihoods. SIP investors have a voice in NPPC policy development. Learn more.
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