Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


AFR/OFU Pleased with Pilgrimís Pride Guilty Plea

Fri, 26 Feb 2021 12:20:24 CST

AFR/OFU Pleased with Pilgrimís Pride Guilty Plea Another domino has fallen in the federal antitrust investigation into anticompetitive behavior in the U.S. broiler industry. Pilgrimís Pride, the second largest U.S. chicken processor, is now the first to plead guilty in a price-fixing and bid-rigging conspiracy that was active from approximately 2012 to 2017.
ďOnce again, clear evidence of anticompetitive behavior has surfaced in our industry,Ē said AFR/OFU Cooperative President Scott Blubaugh. ďAFR/OFU members, Oklahomaís agricultural producers and farmers and ranchers nationwide have raised concerns over this seemingly continuous problem of price-fixing many times. Unfortunately, these anticompetitive practices have continued to be a major detriment to our stateís economy for many years.
ďI hope the federal investigation continues and its implications reach beyond just the poultry industry. Lack of competition in the marketplace negative impacts both the Oklahomans who produce the protein and the consumers who buy it for their dinner tables. Itís a lose-lose situation.Ē
According to the U.S. Department of Justice, at least $361 million of Pilgrimís Prideís sales were affected in the scheme to reduce competition in broiler sales. For its role in the scheme, the JBS-owned company has been fined $108 million.
In June 2020, Pilgrimís Prideís president/CEO and vice president were indicted for their role in the conspiracy. To date, the federal antitrust investigation has resulted in charges for a total of ten executives and employees at major chicken-producing companies. All have pled not guilty.
Both Pilgrimís Pride and Tyson Foods have previously agreed to settle class-action lawsuits brought by their customers. Pilgrimís Prideís settlement included a $75 million payment; Tyson Foodsí settled on a payout of $221.5 million.
AFR/OFU Cooperative is a membership services organization established in 1905 as Oklahoma Farmers Union. AFR/OFU provides educational, legislative and cooperative programs across the state and serves as a watchdog for Oklahomaís family farmers and ranchers and rural communities. The organization is actively supportive of the stateís agricultural industry and rural population with membership consisting of farmers actively involved in production agriculture and non-farmers adding their voice in support of AFR/OFU principles.

   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Feeder Steers and Heifers Lower, Steer and Heifer Calves Lower at Oklahoma National Stockyards on Monday  Tue, 20 Apr 2021 06:00:49 CDT
  • Feeder Steers and Feeder Heifers Steady to Lower at Joplin Regional Stockyards on Monday  Tue, 20 Apr 2021 05:54:15 CDT
  • Emma Yates of Stillwater FFA Wins $2,000 Rick Jones Memorial Scholarship at Commercial Cattle Grading Contest  Tue, 20 Apr 2021 05:47:26 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m, Monday, April 19  Mon, 19 Apr 2021 19:07:50 CDT
  • U.S. Wheat Crop Slightly Behind Normal Progress And Oklahoma Has The Top Crop According to latest USDA Crop Progress Report  Mon, 19 Apr 2021 16:22:57 CDT
  • The National Fish and Wildlife Foundation, Sysco and Cargill to scale sustainable grazing practices across 1 million acres of grassland in the Southern Great Plains  Mon, 19 Apr 2021 16:19:11 CDT
  • Monday, April 19, 2021 Market Wrap-Up with Justin Lewis  Mon, 19 Apr 2021 15:13:23 CDT
  • Growth Energy Calls on EPA to Fix E15 Labeling and Infrastructure   Mon, 19 Apr 2021 14:28:45 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.