[Federal Register Volume 66, Number 164 (Thursday, August 23, 2001)]
[Notices]
[Pages 44330-44331]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-21311]


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DEPARTMENT OF AGRICULTURE

Farm Service Agency


Lifting of Temporary Suspension of Direct and Guaranteed Farm 
Ownership and Farm Operating Loan Programs To Construct Specialized 
Facilities Used for Hog Production.

AGENCY: Farm Service Agency, USDA.

ACTION: Notice lifting temporary suspension.

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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.

EFFECTIVE DATE: August 23, 2001.

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 20250-0522, 
telephone (202)720-1632; e-mail [email protected].

SUPPLEMENTARY 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. 01-21311 Filed 8-22-01; 8:45 am]
BILLING CODE 3410-05-P