A bill that would create more competition and transparency in the cattle industry has advanced in the U.S. Senate committee on Agriculture, Nutrition, and Forestry.
The four largest meat packing corporations' control 85% of the cattle industry in the United States. The current market structure leaves small independent producers in the dark on prices.
During the hearing, independent cattle producers voiced frustration about the lack of knowledge of market prices and say this is causing producers to go out of business.
Michigan Senator Debbie Stabenow is Chairwoman of the committee
She says a consolidated cattle industry can leave food supply chains vulnerable.
"The last few years have made it clear we need to create a more resilient food supply chain. That is better able to withstand disruptions, whether it’s a pandemic, a cyber-attack, weather disasters, or a war in Ukraine," said Stabenow.
According to state data, Michigan’s cattle economy generated $575 million dollars of economic activity in 2018.
The bill now waits for a committee vote
