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A glut on the market and the rising cost of feed have some hog farmers looking at hard times.
Six months ago, George and Tim Stebbins began spending more money raising pigs near this western Ohio town than they recouped when the hogs went to market. And things have only gotten worse. A story from the AP says, Tim Stebbins, 49, estimates the family now loses $36 to $40 for each pig sold, and that doesn't include labor and the cost of keeping up buildings. Each year, the family raises 3,000 hogs from the time they're weaned at 12 to 14 pounds until they weigh 260 pounds, ready for market. "There's no profit to be seen" in the foreseeable future, said Tim Stebbins, who with George has raised hogs since 1978. Hog farmers are bracing for what could be the industry's worst year in history, according to Purdue University agriculture economist Chris Hurt. And Steve Meyer of Paragon Economics in Iowa expects losses to grow in 2008. Ohio in 2006 ranked 10th nationally with 1.68 million pigs, up 17 percent from 1.44 million in 2002. Ohio's hogs are raised on fewer but larger farms _ 4,100 in 2007, down from 14,000 in 1987. Like other livestock sectors, the hog industry has been battered by higher feed costs, brought on in part by the surge in ethanol production and crop exports. Click here to read more of this story from the AP. | ||
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