USDA: Probe launched over beef pricing after Kansas fire

Kansas

WICHITA, Kan. (AP) – The U.S. Agriculture Department says it has launched an investigation to determine if there is any beef price manipulation, collusion or other unfair practices after the fire at the Tyson beef processing plant in Holcomb, Kansas.

Agriculture Secretary Sonny Perdue said Wednesday that as part of efforts to monitor the fire’s impact, he has directed the department’s Packers and Stockyards Division to examine recent beef pricing margins. Perdue says in a statement that if unfair practices are found, it will take quick enforcement action.

The price of live cattle has fallen since the Aug. 9 fire, while beef prices have risen.

Industry experts say the Holcomb plant processed about 6,000 cattle a day, about 6% of all the cattle processed in the United States.

Tyson plans to reopen the plant.

LATEST STORIES:

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download the KSN News App and stay up-to-date wherever you are. You can even watch KSN News live for free!
Click here to get the app
Get it in the App store
Get it in the Google Play store

3 Day Forecast

KSN Storm Track 3 Weather

Trending Stories