Senate hearing on state of livestock industry: May 26
May 20, 2016
On May 13, the U.S. Senate Committee on Agriculture, Nutrition, & Forestry formally announced it will convene a hearing on the state of the U.S. livestock industry. "A Review of the U.S. Livestock and Poultry Sectors: Marketplace Opportunities and Challenges" will be heard on Thursday, May 26 at 10 am in the Hart Senate Office Building.
On Wednesday, USCA sent a letter to Senate Agriculture Committee Chairman Pat Roberts and Ranking Member Debbie Stabenow requesting a hearing be convened to investigate the current state of the market. The letter outlined multiple contributing factors to the collapse of the livestock market in the latter half of 2015, leading up to its current volatility today. Included in the letter and requested items of review: algorithmic and anti-competitive buying practices, consumer confusion, ongoing block of funding for a final GIPSA rule, and additional industry-specific concerns.
Following today's hearing announcement, USCA President Danni Beer stated, "The countryside called on Congress, and Congress answered. USCA looks forward to working with Chairman Roberts, Ranking Member Stabenow and Committee staff in preparation for the hearing."
"As we identify and address the multiple issues contributing to today's market volatility, USCA is confident that concrete solutions can be reached to once again achieve and maintain market stability."
For more information, go here.
–U.S. Cattlemen's Association