Another 145 bidders in the federally-funded hog farm transition program (HFTP) will share $25.23 million to fold up their hog operations for at least three years.
That leaves about $14 million in program funding for the HFTP’s fourth and final tender, scheduled for March 10, the Canadian Pork Council announced Monday.
The council, which administers the HFTP on Ottawa’s behalf, reported Monday that 145 of a total of 403 bids were accepted for the third tender, held Jan. 20, with the lowest bids accepted first, followed by higher bids until the $25 million allocated for the round was fully committed.
Of the successful bids, the lowest accepted was $584 per animal unit equivalent (AUE); the highest was $999.86 per AUE; the weighted average bid for the tender was $925.42.
The successful bidders are now committed to remove 38,572 sows and 76,585 weaners (<30 kg) plus another 149,735 hogs ranging from 31 kg to market weight.
(In order for bids to be compared among all types of animals and facilities, a system to compare bids was developed in which each total farm bid submitted was converted to a dollar per AUE.)
Eligible hog producers who aren’t already registered with the HFTP but plan to participate in the last tender, set for Wednesday, March 10 at 2 p.m. EST, have until Feb. 17 to submit their registration forms, the council said Monday.
Producers need only register once to be approved for all HFTP tendering opportunities, but must submit a new bid for each tender date.
The HFTP, budgeted for $75 million in all, is intended to help eligible producers by providing payments to those who agree to set aside all hog production on their operation for at least three years.
The program is open to all hog producers who were in the business of hog production as of April 1, 2009.
