New report shows legislative proposals could hurt cattle industry
October 6, 2021 By Kellan Heavican Filed Under: Ag economy, Ag Policy, Ag Regulations, Agriculture, Beef, Cattle, Congress, Economy, House Ag Committee, News, supply chain, USDA
The North American Meat Institute says a new report finds that government intervention in the cattle industry will cost livestock producers billions of dollars.
NAMI says one key finding in the 180-page study shows that mandated minimum negotiated cash trade would have a one-year, negative impact of $2.5 billion and $16 billion over a decade.
The report called “The U.S. Beef Supply Chain: Issues and Challenges,” is the result of a collaboration with Texas A&M’s Agricultural and Food Policy Center, national experts and the U.S. Department of Agriculture. It covers meat packing concentration, fed cattle pricing and capacity concerns.
The authors of the report say they urge “extreme caution” when considering changes to a system that has “rewarded high-quality beef production” while acknowledging regional differences.
Meat Institute President and CEO Julie Anna Potts says the analysis reflects that supply and demand have the most influence on the price of cattle and goods for consumers. She says legislative proposals will have unintended consequences on producers.
Thursday the House Agriculture Committee will hold the fourth Congressional hearing on beef and cattle markets.
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