‘Unhinged’ Cattle Ranchers Look for Answers in U.S. Price Probe
- Livestock gluts are coinciding with record-high beef prices
- Farmers have concerns about ‘potential market manipulation’
Ranchers round up cattle to sell to another farm at Tellam & Tellam Cattle in Ramona, California, U.S.
Photographer: Sam Hodgson/Bloomberg
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U.S. ranchers are looking forward to the results of an investigation into market manipulation as low livestock prices threaten their survival, an industry leader said.
Farmers “are becoming unhinged” as livestock gluts -- exacerbated by a wave of slaughterhouse disruptions -- are coinciding with record-high wholesale beef prices, American Farm Bureau President Zippy Duvall said Friday.