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North American Meat Institute: Meat and Poultry Industry is Resilient
The North American Meat Institute (Meat Institute) today released the following statement in response to a U.S. Department of Agriculture’s (USDA) Agricultural Marketing Service report on Agricultural Competition and the first in a series of rules changes the Administration is proposing under the Packers and Stockyards Act:
“Despite what the White House says, the meat and poultry industry proved to be remarkably resilient during the pandemic,” said Julie Anna Potts, President and CEO of the Meat Institute. “Following the challenges of the spring of 2020, the industry acted immediately to reduce..."
Meat Institute to House Ag: More to Beef & Cattle Markets than Packers & Producers
The North American Meat Institute (Meat Institute) today said the beef and cattle markets are complex, driven by supply and demand and have more participants than packers and producers who add value at each step in production.
“Too often, the policy debate around the cattle and beef industry is an overly-simplified discussion limited to cattle producers versus beef packers. It is imperative policy makers remember: packers don’t buy fed cattle from cow-calf producers; nor do packers sell beef to consumers,” said Julie Anna Potts, President...
Tyson Foods CEO: Beef Prices Driven by Strong Demand, Constrained Production and Record Inflation
“It’s a question of basic supply and demand,” says King.
A combination of market forces, including consistently strong demand for finished beef, constrained production due to labor shortages caused by the global pandemic, and record inflation, have been driving current beef prices, Tyson Foods President & CEO Donnie King says in prepared testimony delivered to the U.S. House Agriculture Committee. The testimony was presented in advance of a hearing on Wednesday.
King makes the following points in his testimony:
- As with nearly...
NAMI to Senate Ag: Cattle Prices at Seven Year Highs; Reject Costly Grassley-Fischer Bill
With cattle prices at seven-year highs following record beef production in February and March as the packing sector recovers from COVID-related labor shortages and supply chain issues, the North American Meat Institute today urged members of the Senate Committee on Agriculture, Nutrition and Forestry to reject the Grassley-Fischer bill’s mandates and federal intrusion in the beef and cattle markets.
“Leading agricultural economists have determined Grassley-Fischer bill’s latest draft remains costly to producers, especially producers in Texas..."
Industry and International Leaders Optimistic for the Future of U.S. Cattle and Beef Industry
Today, the National Cattlemen’s Beef Association (NCBA) welcomed Secretary of Agriculture Tom Vilsack, Under Secretary of Agriculture for Farm Production and Conservation Robert Bonnie, and British Ambassador Dame Karen Pierce to the 2022 Cattle Industry Convention and NCBA Trade Show.
“We appreciate the working relationship that our team has with both Secretary Vilsack and Under Secretary Bonnie. NCBA continues to build relationships with leaders at USDA to ensure that the U.S cattle industry is top of mind in policy decisions made in D.C., and the industry’s..."
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