U.S. SENATE – Today, U.S. Senator Steve Daines sent a letter calling on the Department of Justice (DOJ) to investigate the ongoing allegations of price-fixing and market manipulation within the cattle market and the beef meatpacking industry.
“At a time when cattle producers are seeing record losses and bankruptcies, now exacerbated by the COVID-19, compared to the shelf price of meat at record highs – these margins fail to make sense. We ask that the Department of Justice Antitrust Division evaluate these dual concerns thoroughly and expeditiously in order to protect the integrity of America’s failing beef industry,” Daines wrote.
To read the full letter, click HERE.
This letter follows Montana cattle producers concerns regarding the low cattle prices and the consolidation of the beef processing market. The letter also highlights the growing disparity between live and feeder cattle prices compared to the boxed beef prices on supermarket shelves.
In addition to Daines, the letter was also signed by U.S. Sens. John Thune, Mike Rounds, and Kevin Cramer.
Background:
Last September, Daines sent a letter to the U.S. Department of Agriculture (USDA) Secretary Sonny Perdue urging a swift, thorough and transparent investigation into the impact of the fire that occurred at a Tyson Food beef processing plant in Holcomb, Kansas.