Earlier this week, the North American Meat Institute defended its members against allegations of wrongdoing in the cattle market. The response follows a closed-door meeting between livestock and farm groups focusing on ways to improve cattle market transparency and a letter from Republican lawmakers to the Department of Justice. The lawmakers requested DOJ continue its investigation regarding cattle market manipulation.
In reaction, Meat Institute spokesperson Sarah Little told the Hagstrom Report, “In July 2020, USDA analyzed the effects of the 2019 Holcomb facility fire and the pandemic, finding no wrong-doing and confirming the disruption in the beef markets was due to devastating and unprecedented events.” She pointed to several announcements to build new packing facilities or expand capacity that will increase cattle slaughter capacity roughly 4%.
In the letter to DOJ, the group or republican lawmakers state, “while black swan events do not always prove wrongdoing, additional attention can reinforce confidence in the system.”
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