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Federal action plan created to address livestock markets
A new federal action plan announced this week should help make livestock markets fair.
The White House this week announced an Action Plan for a Fairer, More Competitive, and More Resilient Meat and Poultry Supply Chain.
Some of the key points from the Jan. 3 announcement include the dedication of $1 billion of American Rescue Fund money for the expansion of independent processing capacity. Also announced is a hotline at the Department of Justice for the public to report concerns about potential violations of the competition laws. Lastly, the administration hopes to work in various ways to increase transparency in the marketplace, including aspects of legislation that American Farm Bureau supports.
“The idea is that more independent processing and greater transparency in the marketplace should lead to a market that is fair to all players, certainly those that raise and sell the livestock,” said Scott Bennett, American Farm Bureau Federation congressional relations director. “AFBF plans to work with this administration in efforts that help us reach this goal.”
Bennett added the action plan would fit well with a cattle contract library, which American Farm Bureau supports.
“While the announcement doesn’t directly pertain to the cattle contract library, this announcement should provide some tailwinds for efforts like these,” Bennett said. “The cattle contract library and the efforts announced would work well together in the marketplace, so we hope to see that come to fruition as soon as possible.”
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