Senators call for anti-trust investigation

WASHINGTON D.C. (KIFI/KIDK)-Idaho and Wyoming Senators have joined 15 fellow senators calling for an anti-trust investigation of the meat-packing industry.  Among those signing were Idaho and Wyoming Republican Senators Jim Risch, Mike Crapo, Mike Enzi, and John Barrasso.

In a letter to the U.S. Justice Department, the lawmakers call for an investigation of potential anti-competitive activities in the beef packing sector.

According to their letter, pricing discrepancies between fed cattle and boxed beef are unfair to cattle producers and feeders.  They say the lack of competition in meatpacking has resulted in a vulnerable beef supply change, destabilized further by the COVID-19 pandemic.

Cattle prices have slumped more than 18% since February, while beef prices have increased by as much as 115% in the same period. They claim 80% of the cattle industry is controlled by just four major beef packing companies.

The senators ask the Department of Justice to determine any forms of collusion or other unfair and deceptive practices that might exist among packers.

You can read the full letter here.