The United States Cattlemen’s Association is asking the U.S. Treasury Secretary to investigate Brazil Company, Marfrig’s acquisition of U.S. based National Beef Packing Company. USCA President and North Dakota rancher Kenny Graner says allowing foreign companies to purchase U.S. packing plants is a problem.
Marfrig officials announced last week that it raised its stake in National Beef Packing company from 51.1 percent to 81.7 percent ownership. Graner says allowing that to happen and other foreign ownership of U.S. companies goes against the Administration’s goal to Make America Great again.
He says getting more U.S. investors in the future is key to the health of the U.S. economy and should be the next step following this investigation.
Graner notes that nearly 30 million acres of U.S. agricultural land is held by foreign investors. He says once Americans lose out on that capacity, whether it be land, feedlots, meat processing facilities or other resources it may be difficult to ever be able to buy it back.
