The U.S. Senate Judiciary Committee is holding a hearing today examining the lack of competition in the cattle markets. Committee member and Iowa Senator Chuck Grassley says there must be enforcement of anti-competitiveness in the cattle markets by the big four meat packers and the committee will look at that. He’s disappointed there’s been no information given from the investigation last year begun into the cattle markets and lack of competition.
Grassley was asked what he sees coming out of today’s hearing that will ensure independent cattle producers can get more and competitive markets.
Grassley says while the previous cattle market hearing held in the Senate Agriculture Committee was valuable the Senate Judiciary Committee will deal more with the anti-competitive aspects of the market problem.
Grassley says they’re looking at the control of the processing industry by the big four meat packers, the lack of a competitive price for cattle producers and the higher price consumers are paying for their meat.
