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.
On today’s 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 don’t 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 isn’t 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 today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Ron Hays Beef Buzzes With Cong. Frank Lucas
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
Help is on The Way For Cattle Producers Impacted by Brutal Cold Weather And Covid-19 Says NCBA's Ethan Lane Wed, 24 Feb 2021 08:18:25 CST
Data And Information Should Drive Cattle Market Transparency, Not Emotion, Says KSU Economist Dr. Glynn Tonsor Tue, 23 Feb 2021 08:12:31 CST
Latest Cattle on Feed Report Shows There Are Plenty of Cattle in The System, Says OSU's Dr. Peel Mon, 22 Feb 2021 08:15:22 CST
Everyone Agrees, Including Oklahoma Legislature, There Will Be a Cattlemen's Congress in 2022 Fri, 19 Feb 2021 08:53:52 CST
BQA Program Gives Consumers Confidence in Beef Producers, Says Idaho Rancher And Former CBB Chair Kim Brackett Thu, 18 Feb 2021 10:33:39 CST
Large Genetic Toolbox Available For Angus Breeders Says AGI's Joel Cowley Wed, 17 Feb 2021 08:07:00 CST
KSU Veterinarian Offers Advice on Keeping Newborn Calves Alive During Brutal Cold Tue, 16 Feb 2021 10:08:08 CST
Latest Technology on Display at Express Ranches Spring Bull Sale March 5th Mon, 15 Feb 2021 09:35:08 CST
When Brutal Cold Hits, Cows Need Extra Energy And Attention, Says KSU Extension Beef Cow Specialist Justin Waggoner Fri, 12 Feb 2021 08:18:54 CST
Tight Corn Supplies Equals Higher Corn Prices And Raises Cost of Gain For Feedlots, Says OSU's Derrell Peel Thu, 11 Feb 2021 08:37:08 CST
Good Nutrition Critical for Keeping Cattle Healthy in Brutal Cold Weather Says OSU Veterinarian Dr. Rosslyn Biggs Wed, 10 Feb 2021 08:32:21 CST
OSU Veterinarian Dr. Rosslyn Biggs Offers Advice on Preparing Cattle For Bitter Cold Temperatures Tue, 09 Feb 2021 08:41:30 CST
Tight Beef Supply Indicated in Latest USDA Cattle Inventory Report Says Katelyn McCullock, LMIC Mon, 08 Feb 2021 08:30:47 CST
Vilsack Makes it Clear During His Senate Ag Committee Confirmation Hearing he Wants More Cattle Market Transparency Fri, 05 Feb 2021 08:56:06 CST
Cattle Play a Major Role in Keeping us Healthy Says Dr. Sara Place Thu, 04 Feb 2021 08:15:12 CST
Widespread Industry Support Helped Get The Livestock Dealers Statutory Trust Law Passed Says LMA's Chelsea Good Wed, 03 Feb 2021 09:14:13 CST
New Law Will Help Livestock Sellers Recover Funds When a Dealer's Check Bounces Says LMA's Chelsea Good Tue, 02 Feb 2021 08:20:23 CST
January Cattle Inventory Report Shows Stability Depsite Pandemic says OSU's Dr. Derrell Peel Mon, 01 Feb 2021 09:00:43 CST
Congressman Frank Lucas Determined to Resolve Cattle Market Manipulation Issue Fri, 29 Jan 2021 08:30:44 CST
RAMP-UP Act Would Benefit Both Livestock Producers And Consumers, Says Cong. Frank Lucas Thu, 28 Jan 2021 08:29:08 CST
U.S. Beef Exports Expected to Increase 10 percent in 2021 Due to Growing E-Commerce Trade Says Dan Halstrom, USMEF Wed, 27 Jan 2021 08:20:12 CST
Latest Cattle on Feed Report Shows Higher Than Expected Placements Tue, 26 Jan 2021 08:25:41 CST
Helping Commercial Cattle Producers Capture Value of Angus Genetics is Troy Marshall's Focus With the American Angus Association Mon, 25 Jan 2021 08:38:48 CST
Oklahoma Cattle Producers Cautiously Optimistic Says OCA's Michael Kelsey Fri, 22 Jan 2021 08:34:02 CST
MOU Between USDA and FDA on Gene Editing is Good Business Says NCBA's Ethan Lane Thu, 21 Jan 2021 08:24:49 CST
January Cattle Inventory Report Expected to Show a Stable U.S. Cow Herd Says OSU's Derrell Peel Wed, 20 Jan 2021 08:33:42 CST
Simmental Cattle Breeders Expect a Great Year After Their Success in 2020 Tue, 19 Jan 2021 08:05:42 CST
American Hereford Association Executive Jack Ward Proud of Breed's Genetic Improvements Mon, 18 Jan 2021 08:17:21 CST
Gene Editing Technology Could Soon Be Common Practice For Beef Cattle Industry Fri, 15 Jan 2021 08:08:55 CST
Seedstock Industry Undergone Many Changes in Last 20 Years, Says Jack Ward, American Hereford Association Thu, 14 Jan 2021 08:06:15 CST
2020 Taught Beef Producers a Valuable Lesson, Says American Angus Assoc. CEO Mark McCully Wed, 13 Jan 2021 10:42:47 CST
Angus Breeders Survived 2020 By Being Flexible And Quickly Adapting, Says CEO Mark McCully Tue, 12 Jan 2021 08:02:38 CST
Superior Livestock's Bell Ringer Sale Opens The Year With a Record Number of Cattle Offered Mon, 11 Jan 2021 08:45:57 CST
Oklahoma City's Central Location Helped Breed Association's Pivot Quickly When Denver Canceled, Says Shane Bedwell, American Hereford Association Fri, 08 Jan 2021 15:19:27 CST
Livestock Shows Offer "Eveball" Evaluation to Compliment Genetic Evaluation Thu, 07 Jan 2021 08:48:20 CST
