On January 3, the Administration announced measures to support independent meat producers faced with a shrinking share of consumer spend.
In 2021, cattle ranchers received 37 cents on every dollar spent on beef, down from over 50% in previous years. By supporting an increase in the number of processing options the Administration aims to provide price support to producers.
Four companies control 85% of production in the $213 billion meat industry. Critics say the packing companies are monopolistic and have forced consolidation driving down revenues for producers. Packing companies respond that plants have been closed because they are unprofitable.
To help meat producers by encouraging more independent meat processing plants, the Administration will dedicate $1 billion in the American Rescue Plan. Specifically:
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