Meatpacking leaders to speak at House hearing on industry concentration
The chief executive officers of Cargill, Tyson Foods, JBS, and National Beef — the four largest meatpackers in the country — will testify at a House Agriculture Committee hearing on consolidation in the meat industry, said chairman David Scott. “It is very important, very vital, and very urgent that we hear the perspectives from the CEOs at these companies and get the full picture of why prices have gone up for consumers and down for ranchers,” said Scott in a statement.
Scott’s announcement did not specify the date when the executives would testify. At a farm conference in March, he said he had invited the CEOs of “the four top meatpacking operations” and farmers to testify on April 27.
“We look forward to the variety of perspectives we will receive at this hearing and the clarity it will provide to our ranchers, our consumers, and to our nation’s food security,” said Scott on Wednesday.
Meat has been a leading factor in food inflation. While grocery prices soared 10% in the 12 months ending in March, meat prices skyrocketed 14.6%.