U.S. Senator Kevin Cramer (R-ND) issued the following statement on U.S. Department of Agriculture (USDA) Secretary Sonny Perdue announcing USDA’s Packers and Stockyards Division will extend its oversight to determine the causes of divergence between box and live beef prices:
“Thank you Secretary Perdue for taking action. The obvious price disparity is harmful not only to the consumer, but also to our hardworking, honest cattlemen who want a fair market. I hope the investigation is timely, thorough, and results in appropriate changes in the market.”
In March, live cattle future prices declined while prices for boxed beef sold to grocery stores rose. Senator Cramer called on Attorney General Bill Barr to launch an investigation and has been a vocal advocate for further oversight. The Senator recently discussed this in an interview with Fox News Digital.