by Ben Nuelle LISTEN: Money Matters 5-26-16
The Senate Ag Committee will hold a hearing on the state of the livestock industry Thursday. The hearing will focus on a review of the U.S. Livestock and Poultry sectors addressing marketplace? opportunities and challenges. Senator Chuck Grassley says people representing beef, swine, poultry, and egg industry will testify.
?We?ve seen unbelievable volatility in cattle prices during the last year. In addition, in learning from the Government Accountability Office study, as several as my colleagues and I requested, I am interested in hearing for witnesses for the beef industry on what they believe may be behind the price decline and continued volatility within that market.?
Grassley says competition is key for a successful marketplace.
?What we want is a marketplace to work. Competition. If competition is working, then we don?t have to worry about. When we have this hearing this week, I would suggest we are going to find out if there is any manipulation of the market.?
Tracy Brunner, President, National Cattlemen’s Beef Association is one person expected to testify.
