A USDA investigation into cattle market price fixing tied to the Holcomb Kansas plant fire and the pandemic was released this week. R-CALF CEO Bill Bullard says the report is just a starting point and was just an analysis of what occurred.
He says one of the important findings of the USDA report indicates there need to be fixes to the cattle markets and that Congress needs to step in. Bullard says the best way to step in is through Senate legislation requiring packers to purchase 50 percent of their cattle on the spot market within 14 days.
Bullard says USDA’s report lays the foundation for further investigative findings into the cash cattle markets.
Bullard says his group is now waiting to see what comes out of the cattle market investigation being conducted by the U.S. Justice Department.
