September 4, 2009
USDA pledges to buy US$30 million pork in FY 2009
The US Department of Agriculture, in a bid to help the ailing pork industry, said Thursday (September 3) it will buy up another US$30 million worth of pork in an effort to boost prices.
The USDA has already purchased US$151 million worth of pork this fiscal year for government food assistance programs, but producers continue to struggle.
"This action will help mitigate further downward prices, stabilize market conditions, stimulate the economy, and provide high quality, nutritious food to recipients of USDA's nutrition programs," USDA Secretary Tom Vilsack said.
The National Pork Producers Council has been lobbying the USDA hard this year to buy more pork, but the group was repeatedly turned away.
Vilsack told lawmakers during a May hearing that the group was asking for an additional US$50 million purchase but the USDA didn't have the money in its budget.
The Council upped the pressure in August, though, holding a press event to publicize its plea to the Obama administration for "immediate financial assistance."
