JBS Collusion Lawsuit Agreement

After an unexplained collapse in cattle prices back in 2019 the market remains severely depressed until late 2020 then drought conditions began shrinking the herd, tightening supply, and ultimately leading to the record-high prices we're seeing today. R-CALF USA CEO, Bill Bullard,

“Back in 2015 in about the middle of 2015 we alleged that the Packers unlawfully colluded in order to artificially depress cattle prices and simultaneously inflate beef prices that consumers pay so that litigation has been ongoing. It's a class action antitrust case, and now virtually every segment of the entire beef supply chain is joined into this case in one way or another. And very recently, we agreed with JBS, I proposed settlement in the amount of 83 and a half million dollars.”

That proposed settlement was subject to court approval, and the court has granted preliminary approval.

“Cattle producers who have sold live cattle to any one of the big four packers from June one of 2015 through February 29 of 2020 or anyone who traded live cattle futures and held long positions in the live cattle futures market beginning in June, one of 2015 and then they subsequently engaged in another market transit action to close that long position anytime before November, 1 of 2016 they're eligible to file a claim under the settlement.”

R-CALF USA’s Bill Bullard.