Many poultry and pork producers in North Carolina are under contract with major companies to raise animals. During economic downturns, these growers may see their contracts cut or terminated. The N.C. Department of Agriculture and Consumer Services has established the Growers Assistance and Information Network — or GAIN — to provide information to producers whose contracts with integrators are affected by economic conditions.
A list of resources is available in the left column of this page by topic and by agency.
If you learn your contract has been terminated by your integrator, it is important that you remain proactive. Taking charge of the situation immediately helps you negotiate with your lender and with any others who are expecting payments.
Here are some steps you can take to help manage your financial situation:
1. Review your financial situation:
- How much cash do you have on hand?
- What are your monthly recurring household expenses?
- What are your monthly recurring farm expenses?
- What are your other sources of income?
- What one-time payments are due, and when?
2. Contact your lender:
3. Contact your other creditors:
- Notify them of what has happened
- Discuss with them acceptable terms for adjusting your payment schedule
4. Contact the power company to discuss options for reducing your power bill.
5. Notify your insurer – ask about other coverage options while your houses are empty.
6. Clean out and maintain the appearance of your houses and your property – this increases the possibility of being picked up by another company.
If you have questions, please contact Kim Decker in the NCDA&CS Marketing Division at (919) 707-3116 or email@example.com.
The USDA Farm Service Agency provided assistance to poultry growers who lost contracts because their poultry dealer filed for bankruptcy. These funds have been awarded, the program has been completed, and no other funding is available at this time.
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December 22, 2014