Payments to PP growers
Riverok

United States

#1 May 12, 2011
I'm at a loss as to why our government feels it's necessary to bail out Pilgrim's Pride and its growers. Please, someone explain to me why tax payers are footing the bill for PP's bankruptcy?

Riverok
old chicken farmer

United States

#2 May 12, 2011
I didn't know the government ever bailed out the growers or Pilgrim's Pride. The growers did receive disaster grants for their losses for the year 2009 just like all the other forms of farming. Why does the government make available disaster grants for farmers? Just think about the impact it would have on the food supply in America if farmers continually had to go out of business because of severe drought, excessive rain, etc.. These grants to farmers insure after a disastrous year they could sustain their farm in an attempt to recover and farm the next year. If farms shut down the food supply would also shut down. People sometimes forget the food we eat in America isn't grown in the grocery stores, it's grown on farms. Let there be a food shortage and you will see a complete breakdown of civilization. We are fortunate in this country to have an abudance of food thanks to all the farmers. On the other hand, Pilgrim's Pride refusal to sell plants they shut down cost the American taxpayer plenty. To insure that agriculture is continually expanding, the government encourages people to venture into farming by guranteeing farm loans. Most agriculture loans are 90% federally guaranteed. The lending institutions are only on the hook for 10% of the loan in the case a farm goes under. When Pilgrim's Pride shut down plants, poultry growers had no means to meet their financial obligations. With the loans being 90% federally guaranteed loans the American taxpayer will pay for the bulk of the losses. Not only have the growers lost everything, the American taxpayer will also be paying for Pilgrim's Pride's actions.
old chicken farmer

United States

#3 May 12, 2011
And here's the kicker, Pilgrim's Pride isn't even an American owned company anymore. They are owned by a Brazilian company, JBS. Doesn't sound too good knowing a company from Brazil is costing the American taxpayer money. But that seems to be the world we are living in at the moment.

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