October 22, 2019 - Issue: Vol. 165, No. 167 — Daily Edition116th Congress (2019 - 2020) - 1st Session

[Page H8303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      THE NATION'S CATTLE MARKETS

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Montana (Mr. Gianforte) for 5 minutes.
  Mr. GIANFORTE. Mr. Speaker, I rise today to bring attention to the 
state of our Nation's cattle markets.
  Following the August fire at Tyson's beef packing plant in Holcomb, 
Kansas, live cattle prices hit a 5-year low. At the same time, retail 
beef prices rose. It makes sense: if you can process less cattle, then 
there is an oversupply in the live cattle market and less processed 
beef, which increases retail beef prices.
  But the Holcomb processing plant represented only 5 percent of 
America's processing capacity, and yet live cattle prices fell 11 
percent, while retail prices hit their highest levels since 2015.
  I asked Secretary Perdue to investigate the cattle market following 
the Holcomb fire, and he agreed. The USDA expects the investigation to 
wrap up by the end of this year.
  Mr. Speaker, I urge the House to do the right thing by America's 
ranchers and also to look into this cattle market. Montana ranchers 
produce the world's best beef, but current conditions in the market are 
hurting them. They deserve an explanation and to be treated fairly.
  I look forward to a full accounting of the cattle market.

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