Search
Better Farming OntarioBetter PorkBetter Farming Prairies

Better Pork Featured Articles

Better Pork magazine is published bimonthly. After each edition is published, we share featured articles online.


$75 million hog buyout wraps up

Wednesday, March 17, 2010

by BETTER FARMING STAFF

The fourth and final hog transition tender auction wrapped up last week with a price range lower than the preceding auction.

The buyout assigns funds to producers willing to set aside all hog production for at least three years through a competitive bidding process. Low bidders win and pledge to shut down hog production facilities for at least three years.

Held March 10, the final tender auction accepted 93 of 274 bids totalling $14,197,732. The committee in charge of the program had allocated $14 million to the final auction. The price range for the accepted tenders was $493.80 to $888.97 per animal unit equivalent, a formula that takes pigs of all sizes into account. The price range for the third auction’s tenders was $584 to $999.86 — higher than the first ($300 to 997) and with a significantly higher amount for the low bid than the second ($370 to $1,034.23).

Final numbers won’t be released until the end of April. Catherine Scovil, associate executive director of the Canadian Pork Council, responsible for administering the $75 million federal buyout, says producers with successful  bids have until April 15 to confirm that they will participate.
 
In the meantime, the Council will consider an earlier release of some preliminary numbers, such as the number of sows and the provincial breakdowns. 

“We don’t know how many people from this tender will confirm their participation,” says Scovil.

If previous auctions are an indication, however, it’s not likely the preliminary numbers will change much from final figures, she adds.

In total, the program accepted 428 bids of 1,407 submitted and spent nearly $74.5 million of federal funds.

After three auctions, more producers from Ontario than from any other province had agreed to quit the industry. According to an earlier report, 161 bids totaling $21,758,335.32 were awarded to Ontario producers. Manitoba had the next highest number of bids, 59, for a total of $14,011,021.92. British Columbia had the fewest bids – 10 – but Quebec had the fewest animals taken out of production.

Quebec producers also received the least amount of money from the buyout program: $3,570,003.51. Quebec produces as many hogs or more than Ontario, but has a more lucrative provincial stabilization program. BF

 

Current Issue

October 2024

Better Pork Magazine

Farms.com Swine News

Taslar Trading Corp. gets new grain dealer license

Thursday, October 31, 2024

A grain company in Saskatchewan received a new license from the Canadian Grain Commission (CGC) after letting a previous license expire days before. On Oct. 23, Taslar Trading Corp., received a grain dealer license from the CGC for its location in Regina, Sask., the CGC’s website... Read this article online

40 Agriculture Groups Urge Senate to Reject Bill C-282

Thursday, October 31, 2024

Forty of Canada's leading agriculture and agri-food groups sent a letter today to the Senate urging them to reject Bill C-282. Bill C-282 is an Act to amend the Department of Foreign Affairs, Trade and Development Act (supply management). "This bill risks handcuffing Canada’s... Read this article online

Innovating Crop Nutrition with AI and Biologicals

Thursday, October 31, 2024

Chad Mangan, national sales director for NutriAg, recently shared information on how to mitigate crop stress and to maximize yields during the 2024 Great Ontario Yield Tour event in Chesterville, Ontario. NutriAg, a Canadian crop nutrition company, focuses on optimizing nutrient... Read this article online

Boosting Soybean Yields with Advanced Agronomy Techniques

Thursday, October 31, 2024

Strategic nutrient management and the impact of environmental conditions on soybean growth was the focus of a recent presentation by Shaun Casteel, Associate Professor of Agronomy at Purdue University, during his presentation 'Setting and Expanding on Foundations to Maximize Soybean Yield'... Read this article online

BF logo

It's farming. And it's better.

 

a Farms.com Company

Subscriptions

Subscriber inquiries, change of address, or USA and international orders, please email: subscriptions@betterfarming.com or call 888-248-4893 x 281.


Article Ideas & Media Releases

Have a story idea or media release? If you want coverage of an ag issue, trend, or company news, please email us.

Follow us on Social Media

 

Sign up to a Farms.com Newsletter

 

DisclaimerPrivacy Policy2024 ©AgMedia Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Back To Top