Secretary of Agriculture Tom Vilsack is from Iowa, so it is logical to expect USDA to pay ongoing attention to the plight of pork producers. A Reuters report this morning indicates that another $30 million is likely on the way:
The U.S. government plans to buy another $30 million in pork products in fiscal 2009 for federal food assistance programs to help the flailing hog industry, U.S. Agriculture Secretary Tom Vilsack said on Thursday. But pork futures prices fell on the news, as traders at the Chicago Mercantile Exchange had expected a bigger aid package, and said $30 million will do little to help the beleaguered sector because of a glut of pork in storage. "Quantity-wise, that's a drop in the bucket," said John Kleist, broker-analyst with Allendale Inc. "We have enough in the freezer that they (USDA) could take and not even put a dent in the freezer for $30 million." USDA has bought about $151 billion of pork so far this fiscal year, which ends this month.
Numerous anecdotal reports suggest that money provided for dairy under the so-called Sanders Amendment could be put to similar use: government purchases of cheese to assist food pantries.
