R-CALF leaders are pleased the Senate Judiciary Committee is asking the Government Accountability Office to investigate the 2015 cattle price collapse. The Committee’s letter asks the GAO to look into the cause of the sudden 15.1 percent drop in fed cattle prices in the second half of that year.
R-CALF CEO Bill Bullard says the drop caused many cattle producers to lose a lot of money very quickly.
He says market forces did not cause the sudden price collapse.
Bullard says the 2015 cattle price drop warrants investigating the susceptibility of the U.S. cattle industry to anti-competitive practices.
Bullard is hoping there will be a more concerted effort by the administration to look into and enforce anticompetitive actions. The South Dakota Stock Growers Association is also pleased the Senate Judiciary Committee requested the GAO investigate the cattle price drop.
