Lummis cosponsors legislation to address dishonest business practices by large meat packers
WASHINGTON D.C. – U.S. Senator Cynthia Lummis (R-WY) joined her colleagues to cosponsor the Cattle Price Discovery and Transparency Act. This bill restores transparency and accountability to the cattle market by establishing regional cash minimums and equipping cattle producers with more market information.
“As a lifelong cattle rancher, I’ve experienced firsthand the disconnect between the prices that beef sells for at the grocery store and the money ranchers sell their cattle for,” Senator Lummis said. “Meat prices have increased dramatically while profits for producers have stayed the same. This hurts ranchers, but it also hurts Wyoming families at the grocery store. I am happy to stand up for Wyoming ranchers and Wyoming families by signing onto this important, bipartisan legislation.”
The hyper-concentration of meat packing facilities in the United States has led to unfair market practices. Due to a lack of transparency and accountability in the cattle markets, beef costs more at the grocery store, but those profits aren’t getting passed along to cattle producers.
This legislation would create monetary minimums regionally on the price of cattle to make sure that the market is responsible and fair. This means lower prices at the grocery store for Wyoming families and a fair price for cattle producers across Wyoming.