The USDA is investing more than $4 billion to address food supply chain needs through the Build Back Better Initiative. The USDA will focus on four areas: food production, processing, distribution and markets and consumers. Increased transparency and competition within the livestock markets and meat processing sector is included. “It looks like a combination of a lot of things,” said Tom Vilsack, Ag Secretary, USDA. “Having additional processing capacity helps for a better source of data for price discovery. I think this also requires us to look at the Packers and Stockyards Act. There are rules in the Trump and Obama administration that need to be reviewed.” At the end of the day, “it’s all about making sure producers have a fair shake in the market.” More is expected from the initiative in the next few months. Vilsack is part of President Biden’s Supply Chain Disruption Task Force.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.