The Biden administration will invest $1 billion in new plants and issue new rules under the Packers and Stockyards Act. Will this help bring down meat prices?
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Troubles in the turkey industry predate the pandemic.
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As poultry corporations face price- and wage-fixing scandals, Cargill and Continental Grain want to further consolidate the industry.
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Lawmakers and ranchers want answers from antitrust enforcers about rising consumer beef prices and stagnant live cattle prices.
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Methane emissions from industrial hog and dairy operations are rising and contributing to climate change, yet the industry faces little regulation.
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While hundreds of millions for cheated customers is nothing to sneeze at, it is not clear if these recent settlements will discourage future collusion.
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In its final days, the Trump administration finalized narrow and industry-friendly Packers & Stockyards rules that will leave farmers with little recourse if they are abused by meatpackers.
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A class-action lawsuit accusing major poultry processors of working together to hold down plant workers’ wages will move into the next stage of litigation after a court ruling last Wednesday. However, some of the largest corporate players, including Tyson Foods, Pilgrim’s Pride, and Perdue, could be off the hook unless workers fine-tune their case by mid-October.
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Wholesale beef prices have jumped to record levels, as shoppers stockpile meat in response to the global coronavirus pandemic. But this run on beef isn’t helping cattle ranchers. On the contrary, cattle prices have plummeted since January, putting many ranchers on the brink of collapse.
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Last week, The Wall Street Journal reported that U.S. and Chinese trade officials reached a deal to lift China’s five-year ban on U.S. poultry imports in exchange for the U.S. allowing more Chinese cooked chicken and seafood products.
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