If you picture a round of poker, the stakes are high, the tension is thick and depending on how the cards are laid will determine who holds all of the chips, right? Well, I liken that to the lawsuit against JBS-Swift. How will the hand play out?
Today's first headline describes the major beef industry players and how much of a share each player holds in the overall market pie. JBS-Swift has continued to make global news with their business plans to purchase National Beef Packing Company LLC. The Department of Justice filed a civil anti-trust lawsuit today in U.S. District Court in Chicago to block the proposed acquisition by Brazilian-Based JBS-Swift.
The news of this lawsuit has been the major buzz in the media as of late, and I think it's time we discussed it on the BEEF Daily Blog. Yesterday marked the launch of our e-newsletter edition, so we should soon be joined by a great number of industry professionals from all angles and sectors of this business. And, it might be one of those days where you decide to love or hate this blogger, but I'm willing to take that risk. What's important is healty discussion, and I'm opening up the table now.
So how would this purchase have an impact on our industry? Are we one step closer to complete consolidation? Perhaps, a monopoly? And what does this lawsuit really mean for the industry as a whole? Will consumers be the one paying the price for increased market consolidation? What is the significance of this for producers and feeders?
Poker faces aside, everybody. Don't be shy. I want to hear from YOU!