USDA Undersecretary Greg Ibach says he expects their investigation into the market volatility that happened following the Tyson Kansas Processing Plant fire will get done by the end of 2019 or in early 2020. South Dakota Stockgrowers Association President Gary Deering is pleased they’re proceeding with that and wants to see a thorough review completed.
He says the volatility is another indication that the market concentration problem needs to be addressed.
Deering says there does need to be some improvements made to the Packers and Stockyards Act in order to protect cattle producers going forward.
Following the Tyson Kansas plant fire, the cattle prices dropped dramatically while retail beef prices rose. All of that prompted the USDA to move ahead with their investigation.
