Beef Buzz News
Congressman Frank Lucas Determined to Resolve Cattle Market Manipulation Issue
Fri, 29 Jan 2021 08:30:40 CST
When U.S. Rep. Frank Lucas (R-OK) studies the current livestock marketing system he is looking at it from several angles as a Congressman, rancher and consumer.
Ron Hays Beef Buzzes With Cong. Frank Lucas
On todayís Beef Buzz, he explains what he believes is happening and how he plans to fix it.
He said there is a lack of market competition because there are only a few packers controlling a large supply of the cattle.
During a speech to Farm Bureau last year Lucas said he came across a quote from President Teddy Roosevelt who said when 51 percent of the packing was done by four entities that was too much concentration.
That was over 120 years ago yet it still seems a relevant issue today.
Maybe we need to address what is the upper limit of what one entity should control, he said.
Congress has the authority to limit how much of an industry any one entity can control, Lucas said.
I donít care how good your steers are if there is nobody to buy the steers or haul them to market, then it is for nothing, Lucas said.
If we limit the supply or limit the quality of the supply, the consumer will buy less, he said.
The Oklahoma congressman said when a fire swept through a Kansas plant and when COVID-19 hit, the packer concentration issue was pushed to the front.
It says to me there is a legitimate problem in how the food supply system works, Lucas said.
As we wait on pending investigations into the market manipulation issue by the Justice Department and the USDA, Lucas said he is ready to enact legislation.
Adopting one particular proposal may not fit for everybody, Lucas said.
The system isnít working now, and it has to be more robust and equitable, he added.
Click on the LISTEN BAR below to hear more comments from Cong. Frank Lucas.
The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for todayís show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
New Research Explores the Pros and Cons of Cash Cattle Markets in the U.S. Fri, 24 Sep 2021 10:16:19 CDT
New Research Shows Grid Market System Adds $700 Million in Value to U.S. Beef Thu, 23 Sep 2021 11:19:06 CDT
Don Close, VP of Rabo AgriFinance Explains How Beef Won Over the Chinese Consumer Wed, 22 Sep 2021 10:39:31 CDT
OCA's Michael Kelsey: We Need to Take a Pause on Issuing New Medical Marijuana Grower Permits Tue, 21 Sep 2021 13:19:27 CDT
NCBA's Josh White Says Beef Quality Assurance Produces Better Beef Mon, 20 Sep 2021 10:35:46 CDT
Certified Angus Beef Program is a Win for Producers, Processors and Consumers Says John Stika Fri, 17 Sep 2021 10:48:26 CDT
John Stika Believes the Pandemic Shows Consumers Want High Quality Beef Thu, 16 Sep 2021 08:07:17 CDT
Dr. Jody Wade's Advice to Cattle Producers is Stay Ahead of BRD Wed, 15 Sep 2021 13:14:02 CDT
Katelyn McCullock Sees High Hay Prices in the U.S. Tue, 14 Sep 2021 10:49:50 CDT
NCBA's Ethan Lane Believes mCOOL is Old News Mon, 13 Sep 2021 11:15:37 CDT
NCBA's Ethan Lane Heard Little New in White House Briefing on Competition Fri, 10 Sep 2021 11:45:17 CDT
Dan Halstrom Predicts 2021 Will Be a Record Year for U.S. Beef Exports Thu, 09 Sep 2021 11:15:04 CDT
Dietician Shalene McNeill Says Consumers Enthusiastic About Including Beef in Their Diet Wed, 08 Sep 2021 09:25:33 CDT
Shalene McNeill on Why You Should Feed Your Baby Beef Tue, 07 Sep 2021 12:20:07 CDT
Randy Blach Says Sustainability is an Opportunity for Beef Cattle Industry Mon, 06 Sep 2021 05:00:35 CDT
Although Beef Demand is High, Dollars are Slow to Trickle Down to Producers Fri, 03 Sep 2021 12:25:25 CDT
Dr. Harold Newcomb Says Strategic Deworming Helps Your Bottom Line Thu, 02 Sep 2021 09:33:31 CDT
Carbon Markets: The Wild West of Free-Market Enterprise Wed, 01 Sep 2021 10:38:53 CDT
Biden Administration Intent on Dumping Trump Era Navigable Waters Protection Rule Tue, 31 Aug 2021 16:57:44 CDT
NCBA's Scott Yager Says Redefining WOTUS Will Be Repetitive Mon, 30 Aug 2021 11:18:40 CDT
Mark Your Calendars for the Second Annual Cattlemen's Congress Fri, 27 Aug 2021 11:46:50 CDT
More From NCBA's Kent Bacus on Why Beef Exports to China, Japan and Korea Work Thu, 26 Aug 2021 11:36:51 CDT
U.S. Beef is Bustling in the Pacific Rim Says NCBA's Kent Bacus Wed, 25 Aug 2021 08:32:01 CDT
Bruce Hoffman Talks Treating Bovine Respiratory Disease Tue, 24 Aug 2021 09:29:20 CDT
OSU's Derrell Peel Says August Cattle on Feed Report Shows Tighter Cattle Supplies Ahead Mon, 23 Aug 2021 13:24:14 CDT
Randy Blach Believes Better Quality Cattle Brings Great Eating Experience to Consumers Fri, 20 Aug 2021 09:17:27 CDT
Dan Halstrom: There are Concerns Despite High Exports of Beef and Pork Thu, 19 Aug 2021 10:42:01 CDT
U.S. Beef. It's What's for Dinner, Globally Wed, 18 Aug 2021 10:23:41 CDT
NCBA Continues Work With Members and Congress in Improving Market Transparency and Cash Cattle Trade Tue, 17 Aug 2021 10:29:42 CDT
Ethan Lane Says All Eyes are on Transfer Taxes Mon, 16 Aug 2021 09:34:18 CDT
Scott Yager on What New Methane Measurements Mean for the Cattle Industry Fri, 13 Aug 2021 10:05:46 CDT
CattleFax VP Kevin Good Says Cattle Market Leverage is Moving Toward Producers Thu, 12 Aug 2021 09:20:34 CDT
NCBA's Danielle Beck on How the Biden Administration Plans on Funding Their Goals for the U.S. Wed, 11 Aug 2021 09:53:56 CDT
NCBA President Jerry Bohn Talks How the Biden Administration Could Impact Beef Producers Tue, 10 Aug 2021 11:36:01 CDT
Oklahoma National Stockyards President Kelli Payne Talks Resiliency Amid the Coronavirus Pandemic Mon, 09 Aug 2021 21:39:00 CDT