CHICAGO – The U.S. Department of Agriculture said on Thursday it will begin releasing two new reports on cattle sales next week, after ranchers and members of Congress raised concerns about possible anti-competitive behavior in the market.
The reports follow a July executive order from President Joe Biden that calls for the federal government to promote competition in the U.S. economy.
Ranchers raised concerns about the beef market after cattle prices tumbled last year when COVID-19 outbreaks temporarily shut slaughterhouses, removing markets for livestock. At the same time, profit margins soared for companies like Tyson Foods Inc and JBS USA that process beef for consumers.
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