Legislation introduced by Iowa Senator Chuck Grassley to ban packer ownership of livestock comes too late to address the market concentration problem in the cattle industry. That’s according to Organization for Competitive Markets President Mike Callicrate. He says Packers are so big they can’t be controlled.
He says even if Senator Grassley is successful with his legislation the problem still won’t be solved.
Callicrate says Packers are making huge profits by buying cattle cheaper from foreign countries at the expense of U.S. producers.
Callicrate says there are only three to four viable meat packers around and it’s impossible to regulate them. He says the only way to address the concentration problem is to break them up.