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Cramer: Meat shortage exposes meat industry problems, foreign ownership

-The Hagstrom Report
Cramer

Sen. Kevin Cramer, R-N.D., told Fox News on Tuesday that the meat shortages have revealed “a larger problem, real supply chain vulnerability.”

“Two of those companies are foreign-owned,” Cramer said. “One of the largest pork processing facility in the country, Smithfield, is Chinese-owned. JBS is Brazilian-owned. So you see not only a concentration of the processing into very large companies, but you also see the foreign ownership and the vulnerabilities that brings.”

Cramer said that he is calling for the Justice Department to investigate suspected price-fixing and possible antitrust violations with just a few companies controlling the supply chain.

“You’re seeing, in my view … some games being played with both the pandemic and the vulnerability of our supply chain in this huge concentration of meatpacking,” Cramer said.


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