Source: WNAX Radio
Date Published: June 11, 2020
The Four Big meatpackers are under a lot of pressure lately with not only the Justice Department Investigation but now a Chicago Grocery Chain has filed a civil lawsuit against them charging collusion and price fixing. Organization for Competitive Markets Interim Executive Director Ben Gotschall says the problem of packers getting paid more than producers for their cattle has been around a long time.
South Dakota Cattlemen’s Association President Eric Jennings says the issue is getting a lot of attention with this latest court action and cash cattle price concerns are growing.
Gotschall says the grocer’s price fixing suit filed in Minnesota could be precedent setting.
Jennings says while these investigations are warranted, what’s difficult is that packers and producers need each other but both need to have fair prices and transparent markets.
The U.S. Justice Department along with the U.S. Department of Agriculture are both conducting probes into the cash cattle markets and now this civil case has just popped up.