The above text is a summary of what has happened in the world of livestock markets since August 2019. There’s wayyyy more history and quite a few more details I know I missed, but hey, I needed to fit everything in a column. However, after reading that, you’ve got to be asking: what now?
As stated earlier, the White House announced the Biden-Harris Administration’s Action Plan for “Fairer, More Competitive, and More Resilient Meat and Poultry Supply Chain.” This could end great, or things very well could just stay the same — at this point, who knows?
I don’t know what’s going to happen to the beef, pork, or poultry industry in the coming months or years. I hope they change for the better, I mean, I come from a long line of ranchers then I married a rancher — obviously I hope the future of the cattle industry is bright.
I guess it all comes down to this: at least competitive markets are on the radar.
Humor my optimist spirit for a minute…the packer monopoly has been around forever, literally. I mean there were similar lawsuits going on before I was even born. The issue has been the same for decades now. However, the difference is: Big Government has the Big Four in their crosshairs. Will they pull the trigger? No idea. But is it nice to know government officials have breaking up the packer monopoly on their brains? Absolutely.
I guess all we can do is hope and pray that livestock markets do become more competitive for the sake of the farmers, ranchers, feeders, truckers, grocers, consumers, and most importantly, our future.