Grassley & Tester Highlight Beef Price Disparity On Senate Floor

IARN — There have been many question marks surrounding the cattle markets in the past few years. Many producers are lamenting low prices while packers have consolidated to a point that there are only four players controlling eighty percent of the slaughter capacity. Those “Big 4” are Tyson, Cargill, National Beef, and JBS USA. Questions first were raised after a fire at a Tyson plant in Holcomb, Kansas slowed processing. Then with the COVID-19 outbreak, these questions came to light again. Producers and lawmakers are asking how, in a time of decreased capacity, are farmers going under and consumers paying record prices, while the “Big 4” enjoy increased profits.

Senators Chuck Grassley (R-IA) and Jon Tester (D-MT) have been raising that question with the United States Department of Agriculture (USDA) and the Department of Justice (DOJ). In May, President Trump ordered a DOJ investigation into the situation to look for any evidence of price manipulation. A week later, Grassley and Tester were joined by Senators Joni Ernst (R-IA), Tina Smith (D-MN), Mike Rounds (R-SD), Cindy Hyde-Smith (R-MS), and Steve Daines (R-MT) in introducing a bill to increase the transparency of cattle pricing.

Yesterday Senators Grassley and Tester brought their case to the floor of the full Senate.

For the complete article from the Iowa Agribusiness Radio Network CLICK HERE

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