USDA to expand cattle market investigation to include COVID-19 developments
Ag Secretary Sonny Perdue says USDA is going to broaden its investigation of beef industry pricing practices to include recent developments related to the COVID-19 outbreak.
Perdue tweeted on Wednesday that the agency will expand its investigation that began with last year’s Holcomb, Kanas beef plant fire, to explore “the causes of divergence between box and live beef prices”.
The National Cattlemen’s Beef Association has sent a letter to President Trump requesting the government act quickly to investigate “the striking disparity between boxed beef prices and cattle prices in the futures and cash markets”. NCBA asked Trump to direct USDA to expand its investigation of market activity.
One of NCBA’s state affiliates, Nebraska Cattlemen (NC), went a step further this week in calling for an investigation by the U.S. Department of Justice. Click here for Brownfield’s story on NC’s request.