American Cattle Ranchers Go Broke as Corporate Meatpackers Consolidate 85 Percent of Beef Market

[mystery-ak]

American Cattle Ranchers Go Broke as Corporate Meatpackers Consolidate 85 Percent of Beef Market

John Binder 27 Dec 2021

American cattle ranchers, many operating family-owned businesses that have withstood generations, are facing bankruptcy as concentrated corporate power in the meatpacking industry squeezes their profits.

In interviews with the New York Times, ranchers said the corporate meatpackers that dominate the beef market — Tyson Foods, Cargill, the National Beef Packing Company, and JBS — are pushing them into insolvency and out of the market entirely.

The four meatpacking conglomerates once owned 35 percent of the market. Today, their share of the market stands at 85 percent as presidential administrations and Congress have been unwilling to step in with antitrust maneuvers, once readily used to break up corporate monopolies.

“We are contemplating getting out,” rancher Steve Charter told the Times. “We are not getting our share of the consumer dollars.”

more
https://www.breitbart.com/politics/2021/12/27/american-cattle-ranchers-go-broke-as-corporate-meatpackers-consolidate-85-percent-of-beef-market/

[Kamaji]

Oligopoly and monopoly are both predicates for poor economic results.  A free market only really works if no single participant - or limited group of participants (the oligarchs) - can influence prices directly to their benefit.

[libertybele]

American Cattle Ranchers Go Broke as Corporate Meatpackers Consolidate 85 Percent of Beef Market

John Binder 27 Dec 2021

American cattle ranchers, many operating family-owned businesses that have withstood generations, are facing bankruptcy as concentrated corporate power in the meatpacking industry squeezes their profits.

In interviews with the New York Times, ranchers said the corporate meatpackers that dominate the beef market — Tyson Foods, Cargill, the National Beef Packing Company, and JBS — are pushing them into insolvency and out of the market entirely.

The four meatpacking conglomerates once owned 35 percent of the market. Today, their share of the market stands at 85 percent as presidential administrations and Congress have been unwilling to step in with antitrust maneuvers, once readily used to break up corporate monopolies.

“We are contemplating getting out,” rancher Steve Charter told the Times. “We are not getting our share of the consumer dollars.”

more
https://www.breitbart.com/politics/2021/12/27/american-cattle-ranchers-go-broke-as-corporate-meatpackers-consolidate-85-percent-of-beef-market/

Ranchers going broke ... truly a very sad time in America.     

[MajorClay]

Not good

[catfish1957]

Beef industry is an enemy of the woke left.  OTOH, I have heard of some grumblings of the cattle producers working on a consortium of rancher held and operated packers to fight this economic attack.  I hope they succeed and I will support them 100%.

Not surprised about the corporate attack.  Like with farming, their intent is destroy the family ranch like they have sucked up family fams enmasse.