The House Judiciary Committee held a hearing on the effects of economic concentration on America’s food supply. The North American Meat Institute (NAMI) submitted testimony to the committee, addressing meat price increases, stating they are because of labor shortages, greater consumer demand, supply chain problems and other factors experienced by most sectors of the economy.
“It is no wonder the Biden administration and some members of Congress would rather hold press conferences and hearings instead of addressing the labor shortage and supply chain bottlenecks,” said Julie Anna Potts, president and CEO of NAMI.
NAMI also addressed consolidation in the meatpacking sector, stating, “The rhetoric about concentration in the beef packing sector wrongly implies that consolidation is ongoing and that packers’ market power is becoming more and more concentrated.”
NAMI also testified that free market supply and demand are working and should remain so without government intervention with the recently introduced legislation to Congress.
