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| Photo by Tyler Delgado, Unsplash |
The U.S. beef industry is already struggling. There is a dwindling domestic herd, and four companies control most of the nation’s supply of beef, which makes it hard for independent ranchers to remain in the market.
Additionally, America imports a large amount of beef from JBS, a Brazilian meat processing company, which just went public on the New York Stock Exchange. To Mike Callicrate, a rancher and an advocate for family farms, the entry of JBS into the American stock market is a sign that independent ranchers are going to go out of business.
Big companies, with no other competition, will be able to set the prices as they see fit, completely dominating the market.
An example of this was when Walmart opened a milk-processing plant in Indiana in 2018. As a result Walmart milk prices rose, according to former Walmart CEO of American stores Greg Foran.
“The writing is on the wall,” CEO Bill Bullard of R-CALF said in an interview with McCracken. “We will continue to see more ranchers exit the industry, and we will continue to see fewer cows in the U.S beef cow herd. Walmart is simply just another step in the road to fully integrated, industrialized food production.”
from The Rural Blog https://ift.tt/YbVdWBg Cattle ranchers concerned about Walmart’s impact on U.S. beef industry - Entrepreneur Generations
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