Sioux Falls, SD —
Senator John Thune made the following statement today in response to the U.S. Department of Justice filing a civil antitrust lawsuit in U.S. District Court in Chicago to block the proposed merger of JBS-Swift, S.A., the third-largest beef packer in the United States, and the National Beef Packing Company, the fourth-largest United States beef packer:
"I commend the U.S. Department of Justice for opposing the JBS-Swift acquisition of National Beef. This merger would create anti-competitive market power in an already concentrated packing industry. Our producers grow the safest and highest quality meat in the world, and I believe promoting competition in the marketplace is the best way to ensure our agriculture producers receive a fair price for their products."
Senator Thune, a member of the Senate Agriculture Committee, has consistently advocated for more oversight of agriculture mergers. During the 2008 Farm Bill debate, Senator Thune worked to include new policies that protect producers who participate in livestock contracts, as well as provisions that strengthen transparency and oversight of the Stockyards and Packers Act.
The Justice Department's lawsuit does not challenge JBS-Swift's proposed acquisition of Smithfield's Beef Division.
"I remain concerned that the JBS-Swift acquisition of Smithfield may limit producer choices in certain areas of the country and will continue to monitor this acquisition as well."
"I commend the U.S. Department of Justice for opposing the JBS-Swift acquisition of National Beef. This merger would create anti-competitive market power in an already concentrated packing industry. Our producers grow the safest and highest quality meat in the world, and I believe promoting competition in the marketplace is the best way to ensure our agriculture producers receive a fair price for their products."
Senator Thune, a member of the Senate Agriculture Committee, has consistently advocated for more oversight of agriculture mergers. During the 2008 Farm Bill debate, Senator Thune worked to include new policies that protect producers who participate in livestock contracts, as well as provisions that strengthen transparency and oversight of the Stockyards and Packers Act.
The Justice Department's lawsuit does not challenge JBS-Swift's proposed acquisition of Smithfield's Beef Division.
"I remain concerned that the JBS-Swift acquisition of Smithfield may limit producer choices in certain areas of the country and will continue to monitor this acquisition as well."