Pork Powerhouses 2010: 'Back in Black'
Betsy Freese has finished up this year's Pork Powerhouses feature:
"How close was the U.S. swine industry to a total meltdown this year? When the hog market finally swung black in April, many of the Pork Powerhouses® were within weeks of disaster. Bankers were scrambling to restructure loans, producers were putting back-up capital plans in place, and packers were pre-purchasing pigs and providing unsecured loans.
'The markets turned just when they had to,' says one of the largest producers on the 2010 Pork Powerhouses ranking, compiled exclusively each year by Successful Farming magazine. 'We were three weeks from disaster. The industry was starting to topple. If the bankers had forced us to revalue our fixed assets it would have imploded.'
Another producer says this: 'If the market situation had gone on another quarter I don’t know what would have happened. It almost took the whole industry down. Everybody was in trouble.'"
But, things have rebounded. Find out how in this year's edition of the Pork Powerhouses. Are you all seeing similar returns in the business?
Re: Pork Powerhouses 2010: 'Back in Black'
I know I shouldn't ask. Wasn't consolidation going to make it much easier for market signals to reach producers and therefore wipe out the highs and lows?