Feds to Buy $170M in Food From Farmers

With American farms suffering from an ongoing and brutal drought, President Obama will today announce a plan to buy $170 million in pork, lamb, chicken, and catfish to help beleaguered farmers by providing immediate cash, reports Reuters. The announcement will be made at a campaign stop in Iowa, a state the White House considers to be in play this election cycle, and will feature food buys for "food nutrition assistance" programs, such as food banks. The president will also encourage Department of Defense vendors to make advance buys of meats they can freeze for future use.

"This is a win-win. Farmers and ranchers will have an opportunity to sell more of their products at this critical time, and taxpayers will get a better price on food that would have been purchased later," said a White House official. In addition to those measures, Obama will also encourage Congress to pass a farm bill featuring more measures to help farmers. (More President Obama stories.)