Manitoba Pork Marketing Co-op has announced that a Pool Price Rebate in the amount of $.50 per hog will be issued on all hogs marketed through the Co-op during the period of January 1st to July 31st, 2009.
The accumulative total of the Rebate will be in excess of $300,000.00.
The Rebate comes at a time when hog producers are facing losses of up to $50.00 on every hog marketed. While not large, it does represent an amount equal to the marketing levy charged by the Co-op.
Manitoba Pork Marketing Co-op, in existence since 1999, has undergone many changes over the last 10 years, adjusting to the changing industry and the realities of cost cutting and rightsizing the organisation.
President John Preun states, “While there were a number of factors that led to the Rebate, the largest drivers were an increase in market share as well as the Co-op’s leadership in incorporating efficiency changes while not compromising service. I commend the Co-op’s Management and Staff for their commitment to the hog industry.”
Under normal circumstances, Pool Price rebates are distributed at the end of the fiscal year, however, Manitoba Pork Marketing Co-op’s Board of Directors elected, given the financial duress the industry is presently under, to issue the Rebates immediately.