Rounds Unveils Three-Pronged Approach to Address Cattle Market Crisis
WASHINGTON, DC- South Dakota Sen. Mike Rounds Thursday (March 19) announced a number of steps he is taking to address the ongoing cattle market crisis, which has been magnified during the recent outbreak of COVID-19 and could lead to producer bankruptcies.
“In recent years, cattle producers have suffered from an undervalued product and low market prices—despite a consistent and growing demand for U.S. beef,” said Rounds. “This has only intensified in recent months following a fire at a meatpacking facility, and now, the spread of COVID-19. We’re at the point where many South Dakota ranching families are on the brink of going under. This is unacceptable. However, there are steps we can take to reverse this trend, if we act now.
“I’ve taken a number of steps that I believe would provide much-needed assistance for our cattle producers. This includes providing immediate relief for cattle producers who are being unfairly harmed due to COVID-19 market disruption, supporting efforts to reinstate Mandatory Country of Origin Labeling (MCOOL), and urging a federal investigation into multiple allegations of anti-trust violations by meatpackers.
“Our producers are on the frontlines of our food supply chain. We cannot allow unjustified, unfair and unwise practices to put them at a disadvantage –or worse – force them out of business altogether.”
Johnson, Marshall Prioritize Cattle Country in Phase III COVID-19 Agreement
WASHINGTON, DC- South Dakota Representatives Dusty Johnson and Roger Marshall of Kansas Thursday (March 19) urged U.S. House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy to ensure relief for rural America, specifically cattle ranchers, is included in any Phase III COVID-19 stimulus agreement.
“Ranchers are resilient. They can handle the uncertainty of weather, the free market and other challenges that come their way. However, the COVID-19 pandemic is like nothing we’ve seen before and the cattle market has been in a free fall as a result,” said the Representatives. “Additionally, we’ve seen the box beef- live cattle spread widen, leaving no margin for struggling producers as beef flies off grocery store shelves. We are committed to maintaining the supply chain and doing everything in our power to work towards functioning, competitive markets that allow independent producers to thrive. But in the short term, we need relief immediately. As such we are requesting that any deal provides for an increase in the borrowing authority to $50 billion and fully funds the replenishment of the Commodity Credit Corporation, as well as ensures that livestock are eligible for assistance in this time of need.”
