DOJ Investigates Beef and Dems Draw Farm Bill Batte Lines
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The Department of Justice has launched an antitrust investigation into the nation’s beef processing industry, raising concerns about market concentration and its impact on cattle producers.
Acting Attorney General Todd Blanche says officials are examining whether consolidation among major meatpackers has contributed to higher beef prices.
According to federal officials, the four largest processors, Tyson Foods, Cargill, JBS, and National Beef Packing control about 85% of the fed cattle market.
**Battle lines are being drawn in the Senate for a possible late May or early June markup of the recently passed House farm bill.
Agri-Pulse says Democrats are prepping for a fight over pesticides and food assistance.
Senate Ag Chair John Boozman says the most important thing they’ll need to do is increase the credit limits, adding the 2018 Farm Bill was based on 2012 data and the world is totally different now.
**Farmer sentiment weakened in April as the Ag Economy Barometer declined to 121, down from 127 in March, reflecting growing concern across U.S. agriculture.
The survey, conducted by Purdue University and the CME Group, found the Current Conditions Index dropped 11 points, while the Future Expectations Index also slipped.
High input costs remain the top concern for 46% of farmers.
Only 15% said their operations were better off than a year ago.
