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Meatpacking companies' coronavirus-led price hike causes 'beef' with cattle ranchers
Cattle ranchers slam meatpacking giants over coronavirus profit
Cattle ranchers have sent an investigation request to look into meatpacking operations taking advantage of coronavirus profit. Fox News correspondent Mike Tobin with more.
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The U.S. Department of Agriculture is looking into major meatpacking companies after cattle ranchers accused them of using the coronavirus crisis to drive down the price of cattle and raise the price of packaged beef.
The National Cattlemen's Beef Association asked the USDA to investigate "whether inappropriate influence occurred in the markets," NCBA President Marty Smith wrote in an April letter to President Trump.
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Smith also referenced an August 2019 fire at a large packing plant in Holcomb, Kansas, his group says resulted in a similar price disparity.