The USDA was investigating the cattle markets after Tyson’s 2019 packing plant fire and the 2020 pandemic.
The 20-page report found that there was major changes in the market, but not because of anything someone did to rig the markets. They found no evidence of mishandling or illegal activity. The National Cattlemen’s Beef Association CEO, Colin Woodall says that some people will probably be upset about the findings. He also mentioned that there are a lot of issues that need to still be looked at.
Ag Secretary Sonny Perdue said that the investigations aren’t over with yet. He said that if there’s any violations of the Packers and Stockyards Act, they’ll take action quickly. Also, the Justice Department’s investigation is continuing with interviews of people all over the beef industry.
For now, there was no evidence found to assume that there was any market manipulation taking place.
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