Prices not too bad, according to Pork Board president

Hennen says pork producers facing a number of challenges

 

Mike Lamb, Marshall Independent (MN)

Oct 11, 2021

 

Hog producers in Minnesota face many challenges, but Minnesota Pork Board President Brad Hennen says recent prices have been favorable.

 

“There is not really a single price mechanism that everybody uses across the industry. To say that farmers are getting a good price is not always a single number. The farmers that get paid based off of a number what everybody else is getting paid — getting paid the same thing that my neighbor is getting paid — that’s sort of the formula that is out there,” the Ghent hog farmer said.

 

“Right now that number isn’t too bad, but there are times where that number is not very good. There’s also another common formula that I want to get paid what the packer gets paid when he sells it to the grocery store.”

 

Hennen said that formula tends to be a better price, but it also can be volatile and harder to attain.

 

“Not every producer has access to that kind of market pricing formula,” he said. “Over the past year I would say the difference between those two formulas — and there’s a lot of variations on those formulas — you might get one of those two extremes or you might be getting somewhere in between. But the difference between those two formulas is commonly 20 bucks and there has been as much as a hundreds dollars per head. So to say that farmers are making money would be making an assumption on the price on a particular farmer and receiving may or not be accurate.”

 

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https://www.marshallindependent.com/news/local-news/2021/10/prices-not-too-bad-according-to-pork-board-president/