Cattle markets crashed, R-CALF wants answers

Cattle markets crashed, R-CALF wants answers

Cattle futures saw their biggest drop in 34 years at the end of 2015.

The futures market dropped 16 percent at end of last year, rivaling numbers last seen in 1981. A strong dollar limited trade and had the export market down 12 percent through November. Imports increased 20 percent bringing domestic inventories of red meat to a record high.

R-CALF USA has sent a formal request to the U.S. Senate Committee on the Judiciary to investigate the collapse in the cattle market. Concerns for the group are that antitrust and anticompetitive conduct may have occurred in the U.S. beef and cattle markets during 2015.

Iowa Sen. Chuck Grassley says if the accusations are credible the committee would have a responsibility to look into the matter.

National Cattlemen's Beef Association officials say there is no merit in the request.

Watch on AgWeb:

Read more at AgWeb.com.

 

Latest News

Biden Administration Restores Wildlife Protections
Biden Administration Restores Wildlife Protections

The U.S. Fish and Wildlife Service plans to reinstate rules protecting endangered plants and animals, action that would reverse changes made during the Trump Administration that weakened the Endangered Species Act.

Across Breed EPD Adjustment Factors
Across Breed EPD Adjustment Factors

EPDs from multiple breeds can be compared by adding/subtracting the appropriate adjustment factors to the EPDs resulting from the most recent genetic evaluations for each of 18 breeds.

APHIS Now Thinks Wild Birds Are to Blame for Highly Pathogenic Avian Influenza's Arrival on Four U.S. Dairies
APHIS Now Thinks Wild Birds Are to Blame for Highly Pathogenic Avian Influenza's Arrival on Four U.S. Dairies

The livestock industry continues to grapple with the first confirmed cases of HPAI in cattle, while federal and state agencies continue to assure consumers there's no concern about the safety of the U.S. milk supply.

Skills Survey Reveals U.S. Agriculture & Food Industry Workforce Needs and Gaps
Skills Survey Reveals U.S. Agriculture & Food Industry Workforce Needs and Gaps

U.S. employers report challenges in finding suitable job candidates with work-ready skills to fill open roles in ag. The AgCareers.com U.S. Skills Survey offers insights, data and trends to address skill development.

USDA Authorizes CRP Graze and Hay Donations to Wildfire Victims
USDA Authorizes CRP Graze and Hay Donations to Wildfire Victims

Conservation Reserve Program (CRP) participants can donate emergency grazing authority to ranchers in Nebraska, Oklahoma and Texas impacted by recent wildfires.

New Guide Helps Producers Maximize Values of Cull Cows
New Guide Helps Producers Maximize Values of Cull Cows

A new resource developed by the National Cattlemen’s Beef Association and CattleFax helps cattle producers maximize profitability from their culling decisions.