Peak Forage Products

National & World Ag News Headlines
Antitrust Committee Holds Hearing on Meat Packing Sector
USAgNet - 01/24/2022

The House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law held a hearing on the effects of consolidation on America’s food supply, with a focus on concentration in the meatpacking sector and its impact on consumer prices.

Democrats on the panel argued that consolidation in the meatpacking industry has led to recent meat price increases, while Republicans claimed loose monetary policy and supply chain problems have caused the hikes.

In a December report on retail pork prices economists with Iowa State University, North Carolina State University and NPPC found prices have risen because of a lagged response to high wholesale prices during the summer, increased transportation costs, supply bottlenecks and delays and increased labor costs throughout the pork chain.

Other factors included a 2.5 percent loss in pork packing capacity that resulted from a federal court order stopping faster harvesting line speeds, higher energy costs, rising feed costs and a shortage of workers, which has hindered productivity and caused wages to increase.

Other National Headlines
Hixwood Metal
Grand View Safety Grooving
Copyright © 2022 - All Rights Reserved.