Effective Jan. 1, 2023, the Pork Checkoff rate will reduce by 5 cents to $0.35 per $100 of value. This change is a result of a resolution passed by voting delegates at the 2022 Pork Industry Forum.
Pork Checkoff payments are collected for all pigs sold with a change of ownership. This includes sales of weaned pigs, breeding age animals and at the final market destination. The Pork Checkoff is mandated by the Pork Promotion, Research, Consumer Information Act.
Payments received by NPB for pigs sold on or after the first of the year will reflect the reduced rate.
The rate change was a recommendation of the Pork Industry Vision Task Force – a group of 19 leaders from National Pork Board, National Pork Producers Council and various state associations – to ensure the pork industry's long-term success.
Other recommendations from the task force included:
- Create a joint producer-led working group of state leaders (NPB and NPPC) that conducts annual industry planning, prioritizes issues, identifies risks and develops action plans.
- Invest in shared resources (within the criteria of the separation agreement) to develop and implement a more fully coordinated marketing strategy and communications plan for the industry overall.
- Form a new joint industry task force in 2022 to ensure the industry is equipped to address issues and opportunities at the state, regional and grassroots level. The task force shall report annually to the voting delegates at Pork Forum.
- Establish a culture and operational framework that ensures the most efficient and effective use of producer funding.
NPB will provide a report on the progress of these recommendations to the delegate body before the 2023 Pork Forum, which is scheduled for March 8-10 in Orlando.
NPB's 2023 priorities and budget have been developed based on the rate reduction.
Source: National Pork Board, which is solely responsible for the information provided, and wholly owns the information. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.