Packer
Jury deadlocks over price-fixing, bid-rigging allegations by poultry executives. Prosecutors suggest a third trial but the U.S. District judge wants a explanation from the head of the DOJ’s Antitrust Division first.
Beyond Meat is set to release quarterly financial reports likely showing growing sales and increasing losses. As one analyst put it, “it seems the more faux meat they sell the more faux money they make.”
The Biden administration and some cattle groups blame meat industry concentration for producers getting a smaller share of consumer dollars for beef than they did decades ago. The Meat Institute disputes such claims.
The Biden Administration’s Action Plan to invest $1 Billion to expand competition in the U.S. meat packing industry and strengthen enforcement of antitrust regulations drew mixed reactions from cattlemen.
The Biden Administration unveiled a new, four-pronged action plan to aid independent meat processors, strengthen the Packers & Stockyards Act, and issue new “Product of USA” labeling rules.
The Biden Administration’s $1 billion Action Plan unveiled Monday to aid farmers, ranchers and consumers would do none of the above, according to the North American Meat Institute.
Economic advisors to the White House suggested Friday that America’s large meat packers have used their market power to drive up consumer prices while underpaying farmers resulting in a huge jump in net profits.
Tyson Foods has achieved a 96% vaccination rate for COVID-19 among its 120,000 American workers.
An overnight fire at the JBS beef facility and a temporary computer glitch at Tyson’s Dakota City facility disrupted beef packing on Monday sending futures prices sharply lower.
The senator supports legislative action because of concerns that small producers are losing money on cattle due to being unable to spot market.