Livestock Risk Partners

“Don’t get sleepy in your risk management, if you have opportunity to cover a profit, take it!”———–Jim Mintert, Purdue University
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Pork producers highlight foreign animal disease threat to Congress

In written testimony to the House Ways and Means Subcommittee on Trade, the National Pork Producers Council highlighted the threats posed to the pork industry by foreign animal disease. NPPC wrote, “While strong exports have tempered the pork industry’s economic challenges, that would change in an instant if the country were hit with a foreign animal disease. If an FAD outbreak were to occur in the United States, countries around the globe would shut off American exports immediately, resulting in disruptions to domestic production and significant job losses.” The testimony specifically highlighted the threat of African swine fever, saying, “An ASF outbreak in the United States, according to Iowa State University economists, would result in a nearly $80 billion loss to the pork and beef industries, which also would see the loss of 60,000 jobs. Pork prices would drop between 50 and 60% and remain low for three years before recovering.”