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.
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