The Chief Executive Officers of the four major meat packing companies testified on Wednesday at the U-S House Agriculture Committee. The committee held a hearing to look at the practices of the meat industry, specifically at the cattle marketing practices. Cargill CEO, David McClendon says the meat industry is often a cyclical business. He says the size and scale of Cargill’s operations help mitigate price volatility and insure wholesome and healthy food is efficiently transported from farm to table.
The Cargill official says his company rely upon the services of farmers and ranchers in order to remain in business.
Donnie King is the president and CEO of Tyson Foods. He says the price of food has, and always will be, determined by producer supply and consumer demand.
King says people are mistaken if they believe the meat packers manipulate the price of food.
Also testifying at the House Ag Committee hearing were Tim Shellpepper of J-B-S, and Tim Kline of National Beef.
