WASHINGTON – Sen. Chuck Grassley (R-Iowa), a leading advocate for agriculture and farmers in the U.S. Senate, is calling on the Departments of Justice and Agriculture to investigate potential market manipulation and other illegal activity by large meat packing companies in the cattle industry.
“With the shelf price of meat at record highs and with the high rate of concentration in the meat packing industry, there are concerns that the difference in these margins is the result of illegal practices,” Grassley wrote.
In a letter to Attorney General William Barr and Secretary of Agriculture Sonny Perdue, Grassley cites repeated, numerous and significant concerns raised by farmers and ranchers about possible illegal practices due to consolidation of the meat packing industry. The senator is seeking investigations from both departments into these serious allegations.
“I request that you examine the current structure of the beef meat packing industry and investigate potential market and price manipulation, collusion, restrictions on competition and/or other unfair and deceptive practices under the United States antitrust laws and the Packers and Stockyards Act,” Grassley continued.
Full text of the letter follows or can be found HERE.