One of those testifying before the U.S. Senate Judiciary Committee Hearing this week on the cattle market competition problem was Jon Schaben, co-owner of Dunlap Livestock Auction company in Dunlap, Iowa. He told the committee that the recent Black Swan events didn’t cause the cattle market problem, but showed there is a competition problem.
He says the concentration problem is the packing industry was brought out well at the hearing.
Schaben says he told committee members that there’s a major problem with captive supply and a lack of price discovery.
Schaben says there is a great need for access to more marketing capacity. He appreciated the opportunity to share with the committee what he sees happening in the cattle industry and the need for some corrections.
