Beef industry merger draws criticism from American Farm Bureau Federation.
Stallman asked Ross to work closely with agriculture department officials to analyze the proposed acquisition of Smithfield beef assets, National Beef and Five Rivers Ranch Cattle Feeding by JBS Swift. Only last year, JBS acquired Swift & Co, making JBS Swift the world's largest beef processor, he pointed out.
"Farm Bureau understands and appreciates that beef packers operate within a tight profit margin environment just like cattle feeders, stocker operators and cow-calf producers," Stallman wrote. "However, livestock producers are faced with a rapidly concentrating market as it is. Our farmers and ranchers are questioning the potential for market manipulation and further downward pressure on prices received by the producer." In addition, Stallman asked Ross to inform AFBF of the "potential challenges as you consider this or any other proposed agribusiness merger or acquisition."
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|Publication:||Food & Drink Weekly|
|Date:||Mar 24, 2008|
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