The North American Meat Institute says the Grassley-Fischer bill to improve fairness in the cattle market ignores the analysis of beef and cattle markets by the country’s leading agricultural economist. Further, the organization says the bill’s mandated government intervention will have unintended consequences that will hurt livestock producers and consumers. NAMI President Julie Anna Potts says, “In a rush to do ‘something,’ this bill would replace the free market with government mandates and harm those it is intended to protect: livestock producers.” According to one independent analysis using USDA data, since August, prices for producers have been well above the five-year average and above prices in 2020. The Cattle Price Discovery Act is seen as a compromise between lawmakers to “return fairness to the cattle marketplace dominated by four major meatpackers.” North American Meat Institute members process the vast majority of U.S. beef, pork, lamb, and poultry, according to the organization.
North American Meat Institute: Grassley-Fischer Bill Ignores Economic Fundamentals