USDA Secretary Tom Vilsack announced the third installment in a series of regulatory reforms under the Packers and Stockyards Act.
That, in combination with other updates, is intended to level the playing field for farmers raising chickens, turkeys, hogs, cattle, and sheep under contract or for sale to meat and poultry processing companies.
Vilsack says the newest rule gives chicken farmers better insight into companies’ payment rates for their birds, will institute stability and fairness in what is commonly known as the “tournament system,” will provide farmers with key information on capital improvements the companies require farmers to make in order to keep or renew contracts and give farmers stronger leverage when companies don’t stick to the rules.
“We’ve heard many stories of farmers who lost their life savings or went bankrupt because of an unfair system they entered into when they agreed to raise animals for a meat conglomerate,” said Vilsack, who is the sixth-longest serving U.S. cabinet member in history having served in his role for nearly 12 non-consecutive years under both Presidents Obama and Biden.
Vilsack’s role as USDA Secretary will end when President Trump’s nominee Brooke Rollins is confirmed by the U.S. Senate.
Source: NAFB News Service
