On the recordNovember 17, 2021
Our Nation's cattle ranchers are going bankrupt and yet, the price of beef remains expensive and continues to rise. The price disparities between live cattle prices and wholesale beef rise in tandem with historic levels of consolidation in the meat packing sector and minimal levels of competition in the marketplace. My colleagues and I, along with cattle producers nationwide, are asking for action to strengthen the integrity of the cattle market and are requesting an update on the Department of Justice's investigation into the four largest meatpackers in the United States. We must determine if any manipulation, collusion, or other illegal activity may be occurring in order to ensure market transparency. It is vital for the continuation of the American beef industry that market manipulation is identified. We must stand with our farmers and ranchers for fair, competitive, and free market business practices. ____________________
