US Senate Ag Committee to hold hearing on Cattle Market Manipulation

WASHINGTON, D.C.(WNAX)- The Senate Ag Committee will be holding a hearing on Thursday to look at the issue of cattle market manipulation and anti-competitive practices by the meat packers.  South Dakota Senator and Committee Member John Thune says this isn’t a new issue, but they are turning up the heat on the subject and hope to get assistance from the Department of Justice.

He says cattle producers have expressed frustration about the huge disparity between boxed beef prices and cash cattle prices.

Thune says the cattle market is clearly broken and the fix may take a multi-pronged approach.

He says politically the time is right to get legislative action in Congress, the key is that cattle organizations have to be unified on the solution to get passage.