Federal Register: August 23, 2001 (Volume 66, Number 164)
DOCID: FR Doc 01-21311
DEPARTMENT OF AGRICULTURE
Farm Service Agency
NOTICE: NOTICES
ACTION: Direct and guaranteed farm ownership and farm operating loan programs:
DOCUMENT ACTION: Notice lifting temporary suspension.
SUBJECT CATEGORY:
Lifting of Temporary Suspension of Direct and Guaranteed Farm Ownership and Farm Operating Loan Programs To Construct Specialized Facilities Used for Hog Production.
EFFECTIVE DATES: August 23, 2001.
DOCUMENT SUMMARY:
The Farm Service Agency (FSA) is announcing the end of a temporary suspension, effective on the date of this notice, of direct and guaranteed farm ownership and farm operating loan financing for the construction of specialized facilities used for the production of hogs.
SUMMARY:
Specialized facilities used for hog production, construction; temporary suspension lifted,
SUPPLEMENTAL INFORMATION
Programs Affected
10.406 Farm Operating Loans
10.407 Farm Ownership Loans
Background
On January 8, 1999, FSA suspended direct and guaranteed farm loan financing for the construction of hog production facilities. This action was taken to ameliorate the record high level of pork production and oversupply conditions, which had driven live hog prices to less than $10 per hundredweight on the spot market. It had also been determined that it was inconsistent with USDA policy for FSA to continue financing construction of additional production facilities through direct loans and loan guarantees while other USDA agencies were expending resources to ameliorate oversupply conditions.
The Secretary has determined that conditions in the hog industry
have improved to the extent that the suspension on financing for hog
production facilities is no longer necessary. FSA county offices have
been instructed: (1) To notify applicants and lenders that the suspension has been
[[Page 44331]]
lifted and (2) to resume processing direct and guaranteed loan
applications for the production of specialized facilities used for hog production.
Signed in Washington, D.C. on June 29, 2001.
James R. Little,
Acting Administrator, Farm Service Agency.
[FR Doc. 0121311 Filed 82201; 8:45 am]
BILLING CODE 341005P
FOR FURTHER INFORMATION CONTACT
James F. Radintz, Director, Farm Service Agency, Farm Loan Programs Loan Making Division, 1400 Independence Avenue, SW, Stop 0522, Washington, DC 202500522, telephone (202)7201632; email Jim__Radintz@wdc.usda.gov.