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Mixed Reactions to Schumer Meatpacking Bill

Late last week Senate Minority Leader Chuck Schumer (D-N.Y.) introduced the “Family Grocery and Farmer Relief Act” that aims to deconsolidate the U.S. beef-packing industry, address foreign ownership of beef-packing facilities, and focus on eliminating unfair and unjustly discriminatory pricing practices in retail and wholesale meat markets.

Schumer said the forthcoming food-price legislation would focus on consolidation in meat and agriculture, arguing that market concentration allows large companies to squeeze producers while raising prices for consumers. The proposal would also call for a review of foreign-owned meat companies operating in the U.S., potentially affecting firms such as JBS and Smithfield Foods.

This announcement received mixed reactions from leading cattle industry groups.  According to the Meat Institute, they say the proposal would require meat companies that process multiple species to divest operations and focus on only one species.   They say the proposal is absurd and described the legislation as reckless election year pandering that threatens to damage a crucial industry at the center of every American Meal.  

R-Calf CEO Bill Bullard said “Senator Schumer’s legislation targets the same concentration problems that President Trump has also prioritized. President Trump directed the Department of Justice to investigate the nation’s largest beef packers for potential collusion, price-fixing, and price manipulation — and issued an executive order directing the DOJ and FTC to form task forces to determine whether beef prices are being distorted throughout the supply chain. Senator Schumer’s bill similarly calls on the FTC to address concentration-driven distortions in retail beef prices.  He said this bipartisan attention is exactly what is needed to spark a meaningful, nationwide debate on restoring competition in cattle and beef markets.

References:

https://www.nationalbeefwire.com/statement-on-introduction-of-the-family-grocery-and-farmer-relief-act

https://meatingplace.com/democrats-introduce-plan-targeting-meat-industry-consolidation

https://meatingplace.com/industry-group-calls-schumer-meatpacking-bill-absurd

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