Rounds to FTC: investigate anti-competitive practices hurting our nation’s producers
WASHINGTON D.C. — South Dakota Senator Mike Rounds is calling on the Federal Trade Commission to provide a report on anti-competitive practices in the beef-packing industry.
Rounds joined Massachusetts Democrat Elizabeth Warren in introducing the joint resolution. It would require a report be made to Congress within one year on practices like price-fixing and monopolization.
“So in this particular case, Senator Warren – speaking on behalf of consumers in her part of the part of the world – and myself speaking not just for consumers, but for our process as well, we think the guy in the middle right now needs to be investigated,” Sen. Rounds says.
The top four beef producers have increased their market share from 32% to 85% in the last 30 years, while the price paid to ranchers per dollar has decreased significantly.
The resolution has support from major groups, including R-CALF USA, the South Dakota Farmers Union, and the South Dakota Stockgrowers Association.