Daines to USDA: Cattle Market Investigation Update is an Important Step Forward, More Works Needs to be Done

Press Release

U.S. Senator Steve Daines today issued the following statement following the U.S. Department of Agriculture (USDA) releasing a report and update on the ongoing investigation into allegations of price-fixing and market manipulation within the cattle market and the meatpacking industry. Daines has been urging the USDA and the Department of Justice (DOJ) to investigate this issue in a quickly and thorough manner.

"USDA's findings are an important step forward in the ongoing investigation and provides much needed details on the impacts of COVID-19 on cattle markets and beef prices," Daines said. "But more works needs to be done and I will continue to push the USDA and the DOJ to actively coordinate and conduct a complete and thorough investigation to ensure our Montana ranchers can compete in a fair marketplace."

USDA's report summarized the market conditions, fed cattle prices, boxed beef values and the spread before and after the fire and plant closure at the Tyson Holcomb plant, and before and during the COVID-19 pandemic.

It indicated that the investigation into potential violations of antitrust law and/or the Packers and Stockyards Act are ongoing and doesn't make any determinative findings at this point.

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