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The Nation's Cattle Markets

Floor Speech

Date: Oct. 22, 2019
Location: Washington, DC
Issues: Agriculture and Food

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Mr. GIANFORTE. Mr. Speaker, I rise today to bring attention to the state of our Nation's cattle markets.

Following the August fire at Tyson's beef packing plant in Holcomb, Kansas, live cattle prices hit a 5-year low. At the same time, retail beef prices rose. It makes sense: if you can process less cattle, then there is an oversupply in the live cattle market and less processed beef, which increases retail beef prices.

But the Holcomb processing plant represented only 5 percent of America's processing capacity, and yet live cattle prices fell 11 percent, while retail prices hit their highest levels since 2015.

I asked Secretary Perdue to investigate the cattle market following the Holcomb fire, and he agreed. The USDA expects the investigation to wrap up by the end of this year.

Mr. Speaker, I urge the House to do the right thing by America's ranchers and also to look into this cattle market. Montana ranchers produce the world's best beef, but current conditions in the market are hurting them. They deserve an explanation and to be treated fairly.

I look forward to a full accounting of the cattle market.

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