The largest U.S. poultry producer, Tyson Foods, said on Wednesday it would pay $221.5 million to settle antitrust litigation that accuses it of price fixing in the sale of broiler chicken meat.
Noting complaints about dwindling competition, the USDA listed several ways to improve price transparency in the cattle market on Wednesday and offered to assist stakeholders and policymakers in exploring options to assure fair prices and level the playing field between producers and processors.
More than two years after killing an Obama-era proposal to make it easier for livestock producers to prove unfair treatment at the hands of meat processors, the Trump administration said it wants to use four criteria to determine whether packers give undue or unreasonable preference to one producer over another. The proposal was greeted by small-farm advocates as a small step forward while insisting that broader reform was needed.
A class-action lawsuit filed this week on behalf of pork consumers alleges that hog companies have colluded to artificially hike the price of pork — and their profits. The complaint also provides new insight into Agri Stats, a data-sharing company that sits at the center of the wave of antitrust allegations sweeping the meat sector.(No paywall)