Article: Senators Call For Investigation Into Packer Market Manipulation

Article - Media, Publications

Senators Call For Investigation Into Packer Market Manipulation

wnax, 21 May 2021

Senators Mike Rounds of South Dakota and Tina Smith of Minnesota are asking Attorney General Merrick Garland to examine whether the control large meatpackers have over the beef processing market violates U.S. antitrust laws and principles of fair competition. They wrote a letter to the AG this week and are inviting all members of Congress to join them. This isn’t the first investigation on this issue, but Rounds says both producers and consumers are at the center of this examination.

Two similar DOJ investigations are still underway with no results. However, Senator Rounds says they have evidence those are moving forward and are calling for action from the AG’s office if there is proof of wrongdoing. He thinks there is a better chance of getting some action under this AG and administration.

Rounds is unsure why neither the Packers and Stockyards Act or current anti-trust laws have been enforced

The Senator has also signed on to the 50-14 bill to mandate the level of negotiated cash packers must buy on a weekly basis. Rounds took part in a virtual town hall with cattle producers this week to discuss his nationwide effort to address meatpacker concentration issues in the cattle industry.

Read Full Article