Bankruptcy is an all too familiar term when it comes to one of North Carolina's largest industries.

Hog farmers across the east say overly large herds and rising costs due to higher grain prices have been shrinking their bottom lines.

The state is the nation's second largest hog-producing state, behind only Iowa.

Operations in Wilson, Duplin and and Halifax counties have all recently filed for bankruptcy allowing the family farms to reorganize.

One hog farmer we spoke to in Jones County says they aren't planning on filing for bankruptcy anytime soon, but money is tighter than he can ever remember.

Smithfield reported losses of 112 million dollars for 9 months in February.

JC Howard which has contracts with Keith Mills Hog Farm says they have suffered significant losses as well, but won't say how much.