Oklahoma Congressman Frank Lucas and a bipartisan group of House members want the USDA to release the findings of their investigation into beef pricing. South Dakota Cattlemen’s Association President Eric Jennings says that needs to happen.
Since the coronavirus pandemic began, cattlemen saw prices decline with cattle futures falling 29 percent between January and April while beef prices increased in stores. Jennings says those impacts have been tough on cattle producers as well as consumers.
Congressman Lucas and his fellow house members say producers want effective market based risk management tools. Jennings says that’s difficult to achieve given the present circumstances.
The USDA began investigating the cattle markets following a fire at the Tyson processing plant in Holcomb, Kansas and then announced later they’ve expanded that investigation.