R CALF officials are concerned that three Black Swan events in the cattle markets in less than two years will lead to the industry being vertically integrated giving packers total control of the market. R CALF CEO Bill Bullard says Black Swan events are defined as an unpredictable or unforeseen event, typically with extreme consequences.
He says the third Black Swan happened last month where wholesale beef prices rose and cattle prices subsequently collapsed. Bullard says without a fix, this dysfunctional market will lead to total packer control of the cattle markets.
He says to solve this problem two major steps must be taken, one being re instalment of mandatory country of origin labeling and the other being Congressional approval of the Grassley Tester 50-14 legislation.
Bullard says a third possible solution is for producers to sign the petition calling for a beef checkoff referendum.
