Representative David Scott, Chairman of the House of Representatives Agriculture Committee has announced that the CEOs of the “Big Four” will testify at a hearing on April 27th. Rep. Scott stated, “I am pleased to announce that the Chief Executive Officers of each of the four largest meat packers in the United States have agreed to testify at our upcoming Congressional hearing discussing cattle markets and price increases for consumers.”
Topics to be considered include alleged anti-competitive behavior in the meat industry. The hearing will serve as a bookend for a panel of ranchers who will comment on consolidation and its effect on operations and profit ability.
It is suggested that the CEOs of Cargill, Inc., Tyson Foods, Inc., JBS and National Beef Packing Company wear insulated trousers as they will surely be on the hot seat.