To ensure fair prices for cattle producers, the USDA would require meatpackers to buy a specified number of cattle on the spot market and through negotiated "grid" trades under a Senate bill introduced on Tuesday. The bill, similar to legislation filed in September 2020, was backed by the American Farm Bureau Federation and the U.S. Cattlemen's Association.
From meat packers to seed companies, farm equipment to agrochemicals, the agriculture industry has become increasingly concentrated, leaving farmers with few options when it comes to buying inputs or selling their commodities. This has also become a potent political issue in rural areas, but …
As an antidote for the dwindling cash market, the largest U.S. cattle group circulated a plan on Tuesday for meatpackers to voluntarily buy cattle on the spot market to assure fair and open prices, with the threat of mandatory disclosure if the systems fails. The so-called 75 percent plan by the National Cattlemen's Beef Association stood as an alternative to bills in Congress to require packers to buy as many as half of their slaughter cattle for cash.
The milk cooperative Dairy Farmers of America has entered into an agreement to buy most of milk processor Dean Foods’ assets as part of the latter’s bankruptcy proceedings. If approved, the $433 million deal will make DFA both the largest milk supplier and the largest milk processor in the country.
The Department of Justice intervened Friday in a landmark price-fixing suit against the country’s biggest poultry companies, possibly signaling that its own grand jury investigation into the chicken sector could result in criminal indictments. The DOJ asked the U.S. District Court for the Northern District of Illinois to stop discovery in the class-action lawsuit brought by food distributor Maplevale Farm, saying in its motion that “a limited stay is needed to protect the grand jury’s investigation.”
Last month, the nation’s fourth-largest beef packer, National Beef, announced plans to take over Sysco-owned Iowa Premium, a regional packer focused on processing Black Angus steers for the Upper Midwest. National Beef is majority-owned by the Brazilian firm Marfrig. (No paywall)
The man that would lead the agriculture division created by the merger of U.S. giants Dow and DuPont says the companies expect to close the merger by the end of this year despite ongoing antitrust reviews, said DTN.
Senate Judiciary Chairman Chuck Glassley of Iowa said he would hold hearings next month on "a wave of consolidation among seed and chemical producers, including the merger of Dow and DuPont," the Des Moines Register reported. The announcement came one day after the Committee on Foreign Investment in the United States approved the $43 billion merger of ChemChina and Swiss-based Syngenta, which has significant operations in the United States.
The Justice Department should block the Dow-DuPont merger, which would create the largest seed and ag chemical company in the world, because it would unduly reduce competition in the sector, say a trio of legal, farm and consumer groups. The merger is part of a wave of consolidations that would turn the world's six biggest seed and ag chemical companies — Monsanto, Syngenta, Bayer, DuPont, Dow and BASF — into "a Big 4, dominated by a Monsanto-Bayer and Dow-DuPont duopoly," said the groups in a letter to regulators.