A group of US pork producers who proposed a Producer Retirement Program have announced the program will not take effect due to a lack of participation.
According to Chuck Wirtz of Whittemore, Iowa, chairman of the board of directors of the Producer Retirement Program, “Market conditions have changed dramatically for the worse for the pork industry in the past few months. Unfortunately, since this group of pork producers began work designing the PRP, most producers with sows are no longer in a financial position to support the program.”
The Producer Retirement Program was designed to supplement the cull price that the members would otherwise receive for their sows if they decided to exit all or a portion of their production for a two-year period. The retirement program was dependent on a sufficient number of pork producers with sows signing up and paying a $20 per sow subscription.