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CEO to Testify at Hearing Designed to Examine Washington, D.C. (May 5, 2008) – The Senate Committee on the Judiciary has scheduled a hearing before the Subcommittee on Antitrust, Competition Policy and Consumer Rights on “Concentration in Agriculture and an Examination of the JBS/Swift Acquisitions” at 2 p.m. EDT, on Wednesday, May 7, 2008, in Room 226 of the Senate Dirksen Office Building. R-CALF USA CEO Bill Bullard has been invited to testify on the second panel and will present information to show the subcommittee that if JBS is allowed to purchase National Beef Packing Co., Smithfield Beef Group and Five Rivers Ranch Cattle Feeding, such action would cause injury to competition in both the U.S. cattle industry and the U.S. beef industry, which would result in harm to both independent U.S. cattle producers and U.S. consumers. “R-CALF hopes the Senate Judiciary Committee would take steps to prevent this merger from going through,” Bullard said. “At the very least, we would hope that if the merger is not blocked, the Judiciary Committee would do what the Senate and House Ag Committees failed to do, and that is to put in place protections to prevent packers from using packer-owned cattle and other captive-supply cattle to artificially force cattle prices lower.” Testifying just before Bullard will be Wesley M. Batista, the CEO of North America JBS Swift & Co. The Subcommittee on Antitrust, Competition Policy and Consumer Rights has jurisdiction over: 1) oversight of antitrust law and competition policy, including the Sherman, Clayton and Federal Trade Commissions Acts; 2) oversight of antitrust enforcement and competition policy at the Justice Department; 3) oversight of antitrust enforcements and competition policy at the Federal Trade Commission; and, 4) oversight of competition policy at other federal agencies. Note: Bullard’s testimony will be posted Wednesday under the “Competition Issues” link at www.r-calfusa.com. # # # R-CALF USA (Ranchers-Cattlemen Action Legal Fund, United Stockgrowers of America) is a national, non-profit organization dedicated to ensuring the continued profitability and viability of the U.S. cattle industry. R-CALF USA represents thousands of U.S. cattle producers on trade and marketing issues. Members are located across 47 states and are primarily cow/calf operators, cattle backgrounders, and/or feedlot owners. R-CALF USA has dozens of affiliate organizations and various main-street businesses are associate members. For more information, visit www.r-calfusa.com or, call 406-252-2516. |
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This page was last updated on Friday, June 06, 2008. |
