Missouri lawmaker calls for cattle market investigation
A Missouri state lawmaker is calling for a state investigation of potential price-fixing in the cattle market.
Representative David Gregory, a Republican from St. Louis, is chair of the House Special Committee on Government Accountability, “There’s some pretty strong circumstantial evidence that the meatpackers are coordinating efforts to suppress the price of fed cattle. And that’s a problem and if that is actually occurring it’s illegal.”
He says Missouri cattle producers are getting low prices for fed cattle while meat packers are enjoying all-time high prices, “Something’s up. There’s smoke and where there’s smoke there could be fire. And that is something that we need to do. We need to do this investigation. I can tell you our farmers and our cattlemen they are vital to Missouri’s economy and we’re focused on and maintaining the integrity of that beef supply chain.”
His request for an investigation and subpoena powers need the consent of the Missouri House Speaker. If granted, Gregory says they would let the evidence lead to the conclusion.