The US government is to look into a recent surge in beef prices, with retail prices jumping amid coronavirus-related panic buying but cattle farmers not seeing the same rises.

Sonny Perdue, the US Agriculture Secretary, made the announcement on Twitter. The investigation will build on a probe the US Department of Agriculture launched last August after beef prices soared in the wake of a fire at a Tyson Foods plant.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

R-CALF USA, the organisation that represents US cattle and sheep producers, claims the US cattle industry is in “crisis”, with ranchers facing “a complete and lasting disconnect between the value of cattle and the value of beef”.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a Facebook statement yesterday, R-CALF USA said: “The crisis the U.S. cattle industry is in was not caused by the coronavirus pandemic, but it has significantly worsened because of it. Today’s cattle industry crisis manifested five years ago. At that time cattle prices plummeted, and beef prices continued climbing. The coronavirus pandemic is now shining a floodlight on our dysfunctional cattle and beef industries. Cattle prices are below production costs while consumers pay near record prices for beef.”

See Also:

Asked to respond to Perdue’s comments, a spokesperson for US beef-processing major Tyson said: “We take our critical role of helping feed people across the country seriously and that begins with the relationships we have with our independent producers who provide us with high quality livestock. We stand ready to cooperate with the oversight function exercised by USDA’s Packers & Stockyards Division. During the current pandemic and following the fire at our Holcomb Kansas facility last August, we have taken steps to minimize the impact each situation had on our producers, production volume and our ability to cover customer needs.”