This week, the USDA released a new rule for the Packers and Stockyards Act, policies that oversee the meat industry in the United States.
This week, the USDA released a new rule for the Packers and Stockyards Act, policies that oversee the meat industry in the United States.
Transcript
This week, the USDA released a new rule for the Packers and Stockyards Act, policies that oversee the meat industry in the United States.
The announced rule would prohibit retaliation from meatpackers towards livestock producers who discuss their business practices with other producers, form co-ops or other production groups, or who seek contracts with other animal buyers or processors.
The new rule would also prohibit deceptive practices in contracts between livestock producers and processors.
Jeff Kippley, President of The National Farmer’s Union, wrote this week:
“Given the abundant evidence of price fixing and unfair practices in the livestock industry, it’s clear that maintaining the status quo won’t foster innovation, competition, or robust market oversight. It’s time to acknowledge the heavily consolidated and vertically integrated nature of the industry and enact rules that level the playing field for family farmers and ranchers.”
The National Cattlemen’s Beef Association announced measured support:
“NCBA’s concern with this regulation has always been based in the rule’s unforeseen impacts to standard business practices. While we still have concerns about the unintended consequences of the rule, we are pleased that USDA has addressed most of our significant concerns between the proposed and final rules.”
The final rule will be effective 60 days after publication in the Federal Register. This week’s new rule follows two other changes to the Packers and Stockyards Act which were announced in 2023.
For Market to Market, I’m Peter Tubbs.
Watch More
USMCA and other global trade are vital to rural America as discussed in our Market Plus.
Data centers, inflation, oil and USDA reports dominate our Market Analysis with Chris Robinson and Ernie Goss.
USDA sends two reports into the world this week for acres and stocks. A mid-year review of the economic picture in rural America. And, commodity market and economic analysis with Chris Robinson and Ernie Goss.
Shawn Hackett talks how the reoccurring drought in Europe might be enough for a short rally in corn.
The Senate goes to work on Farm Bill 2.0. State and Federal laws collide as the Supreme Court rules in favor of Monsanto. A growing effort to protect farmland from development. And, commodity market analysis with Shawn Hackett.
Super El Nino is part of the discussion in the commodities markets with our Market Analyst Shawn Hackett.