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Quarter Of Nova Scotia Pork Farms May Close
CANADA - A $1.8-million lifeline recently thrown to Nova Scotia pork producers will run out by the end of the month, and one-quarter of the farms could shut down if there isn’t more government support by September, Pork Nova Scotia officials said Tuesday.The province announced the money for Pork Nova Scotia on April 3, after contributing $1 million in November.
Martin Porskamp, the body’s chairman, told the legislature’s economic development committee that the $1.8 million will run out by the end of May.
Executive director Henry Vissers said prices are even worse than expected. A farmer gets $120 to $125 per hog, although the break-even point is about $172 per hog.
The government funding tops up the farmer’s take to $155 per hog.
Mr. Porskamp said farmers are trying to hang on, with some relying on another commodity or a friendly banker until prices rebound.
"I don’t know why we do this to ourselves, but we keep going and going until we’re gone," he said.
He said some farmers with high mortgages simply can’t afford to quit, and declaring bankruptcy is a last option.
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Source: The Chronicle Herald
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