Chairman of the House Agriculture Committee Rep. David Scott (D-GA-13) announced the full committee would conduct a hearing on April 27 to determine whether anti-competitive practices by meatpackers caused increased beef prices and difficulties to ranchers and farmers.
“It is well known that among the four companies that dominate this market, there have been a number of allegations and investigations. It is critical that we find out if industry concentration and anti-competitive behavior is playing a role in inflating prices for consumers and preventing ranchers from receiving a fair price,” Scott said in a statement.
The North American Meat Institute (NAMI) said in a statement this would be the seventh hearing on the issue, and they have made themselves available “on several occasions to help improve the understanding of the beef markets,” according to Julie Anna Potts, NAMI president and CEO.
“The Meat Institute will again show, despite what the White House alleges, in the 265 months beginning January 1970 through January 2022, packers received the smallest share of the consumer beef dollar each month except May 2020, the peak of the COVID-related packing plant shutdowns that briefly reduced the beef supply,” Potts continued.
