Senate Ag Committee continues debate on cattle markets
The Senate Ag Committee continues to tackle the lack of competition and price imbalance in the cattle industry.
During today’s hearing, Montana Democrat Jon Tester, the only working farmer in the US Senate, told committee members it’s time to fix the problem, “Today’s marketplace is more consolidated than it was in 1921, when this body passed the Packers and Stockyards Act. Rural America is drying up because we can’t get fair prices at the farmgate. Capitalism isn’t working, in this particular instance, because of concentration and consolidation in the industry.” Tester is not a member of the Senate Ag Committee.
Senate Ag Committee ranking member John Boozman of Arkansas expressed concerned to the panelist about the unintended consequences that could arise in the cattle industry from a cash market mandate.
Andy Green is the senior advisor for fair and competitive markets at the USDA, “In general, we are intending to be as careful – input-driven, fact-driven – as we possibly can and take into account all the different viewpoints of a complex and complicated industry.”
Tuesday’s hearing took a closer look at the Cattle Price Discovery and Transparency Act and the Meat and Poultry Special Investigator Act of 2022.