For years the cattle industry has been struggling with a price imbalance that has fueled the frustrations of many producers. Wednesday’s Senate Ag Committee hearing addressed the lack of transparency in the markets and the stranglehold packers have on the cattle industry.
Justin Tupper, vice-president of the US Cattlemen’s Association says improved price discovery only happens with a second bidder, or increased competition. “If you talk to any of these small or mid-sized feedlots that do not have already an arrangement with a packer, they do not get a second bidder,” he says.
