Sen. Deb Fischer, a member of the Senate Agriculture Committee, recently commented after U.S. Department of Agriculture (USDA) concluded its investigation this week into market manipulation in the cattle industry following a fire at a Tyson Foods plant in Holcomb, Kan., and the COVID-19 pandemic.
“The report confirms our serious misgivings about the many factors that are working to destabilize the marketplace,” Fischer said. “In light of these events and this report, I will be introducing legislation soon in the Senate aimed at providing equity and transparency for all market participants.”
The report, Fischer said, was prepared by USDA’s Agricultural Marketing Service in coordination with the Office of the Chief Economist, summarizes market conditions, fed cattle prices, boxed beef values and the spread before and after the fire and plant closure at the Tyson Holcomb plant, and before and during the COVID-19 pandemic.
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