(10/8/21) Yesterday, the House Agriculture Committee held a full hearing on the state of the livestock industry, specifically addressing concerns regarding anti-competitive behavior in the cattle marketplace. Rep. Randy Feenstra (IA-04), raised the concerns Iowa cattle producers have brought to his attention — including the urgent need to provide much-needed certainty in the industry by identifying and implementing policy solutions.
The Biden administration recently published a statement saying they were “encouraged to see bipartisan legislation by Senators Tester, Fischer, Grassley, Wyden, and others that seek to improve price discovery in the cattle markets.” After Sen. Chuck Grassley (R-Iowa) spoke to the committee and urged members to immediately pursue legislative solutions, Feenstra asked Secretary of Agriculture Tom Vilsack if he would commit to helping with this bipartisan legislation.
Feenstra also questioned Vilsack on the administration’s timeline for Packers and Stockyards rulemaking announced as part of President Biden’s executive order on promoting competition in the American economy. Vilsack informed the committee that he is hopeful an initial proposal will be released by the end of this year.
Back in May, Feenstra joined his colleagues in urging the Department of Justice (DOJ) to examine anti-competitive behavior by the four largest meatpackers.
Feenstra and Vilsack’s comments come courtesy of Feenstra’s YouTube channel. https://www.youtube.com/watch?v=Dq7N-2DAocQ