Responding to requests from ranchers, farm organizations and state lawmakers, the Department of Justice launched an investigation into anti-competitive activity by the major beef packers. As a result of two major market-disrupting events within the industry, USDA then released a report into the boxed beef and fed cattle price spread. “The considerations really provide a road map for returning transparency and true price discovery to the cattle marketplace,” explained Lia Biondo, U.S. Cattlemen’s Association. After that, many organizations formed committees that offered policy guidance for potential fixes resulting from the investigation. The National Cattlemen’s Beef Association developed a plan by which negotiated trade volumes can be measured, along with packer participation. “How do we hold both the supply and the demand side the equation accountable to participate in this framework?” asked NCBA’s Tanner Beymer. In September, USDA Under Secretary for Marketing and Regulatory Programs Greg Ibach spoke to cattle producers at the North Dakota Stockmen’s Association Convention. In an interview with the Red River Farm Network, Ibach said there is room for improvement. Listen to the full story and the RRFN Top Stories of 2020 list.
