U.S. Ag Secretary Sonny Perdue announced yesterday (8/28) he has directed the USDA Packers & Stockyards Division to conduct an investigation into recent beef pricing margins. The agency will determine if there is any evidence of price manipulation, collusion, restrictions on competition or other unfair practices following the fire at the Tyson beef processing plant at Holcomb. Perdue said if any unfair practices are found, quick enforcement action will be taken.
NCBA President Jennifer Houston said the announcement demonstrates the Trump administration’s understanding of the extreme strain placed on the cattle industry by the plant shutdown. She encouraged USDA to look at all aspects of the beef supply chain as part of its investigation.
“We believe it adds transparency that will help build confidence in the markets among cattlemen and women,” said Houston.