SD Stockgrowers respond to Senate Judiciary Committee’s investigation of cattle price collapse
Statement from Stockgrowers President Bill Kluck, Mud Butte, SD:
“The members of the South Dakota Stockgrowers Association are really impressed and want to say thanks to the Senators who have agreed to move this investigation forward. The price collapse that we saw in the fall of 2015 was a serious downturn in our industry and strained the finances of our family ranches. If you figure that the average ranch had $500 per head less income in 2015, that’s a lot of money that isn’t circulating in our rural economy right now.
We appreciate that the leadership of the Senate Judiciary Committee took this seriously and is conducting this investigation to make sure our markets aren’t being influenced unfairly.”
Statement from SD Stockgrowers Marketing Committee Chair, Vaughn Meyer, Reva, SD:
“This investigation is great news, and we extend our thanks to Senators Grassley, Leahy, Lee and Klobuchar for their ongoing commitment to keeping our markets fair. The best way to keep our independent family ranches going is to keep our markets strong and competitive so that we get fair prices for the high quality cattle we’re raising.
The types of market swings that we’ve seen over the last year make it hard for our family ranch businesses to plan for the future and make us question just what is causing the drops. This investigation and full enforcement of the Packers and Stockyards Act are critical to making sure we don’t have anti-competitive forces trying to break the market.”
–South Dakota Stockgrowers Association