Higher-than-expected inflation has thwarted Biden's agenda, hurt his public approval rating, become fodder for Republican attacks and prompted Sen. Joe Manchin, D-W.Va., to cite higher prices as a reason to sideline the Democratic president's tax, social and economic programs. In November, consumer prices rose 6.8% over the prior 12 months -- a 39-year high.
The administration is targeting meat processing plants, which can shape the prices paid to farmers and charged to consumers. The White House issued a fact sheet saying the top four companies control 85% of the beef market. In poultry, the biggest four processing firms control 54% of the market. And for pork, the figure is 70% for the four biggest firms.
Bradley said the administration is practicing politics instead of economics and "government intervention would likely further constrain supply and push prices even higher." "We must get to the bottom of why farmers and ranchers continue to receive low payments while families across America endure rising meat prices," said Zippy Duvall, president of the American Farm Bureau Federation. "We are encouraged by the administration's willingness to work with lawmakers on both sides of the aisle to improve price discovery in the cattle markets."
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'The figures Simon puts forward are so big as to defy comprehension: he says the externalised cost of America’s animal food system is US $414 BILLION annually.'
Canada can’t compete: