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R-CALF Says Obama Broke Promise
R-CALF upset with JBS acquisition of Pilgrim's Pride
In a strongly worded four-page letter to the U.S. Department of Justice (Justice), 17 R-CALF USA officers, directors and committee chairs from 12 states on Thursday expressed deep disappointment that Justice failed to properly investigate the antitrust implications associated with Brazilian-based JBS S.A.’s (JBS’) acquisition of Pilgrim’s Pride Corporation (Pilgrim’s Pride).
The letter states, “In our opinion, the Justice Department’s action in refusing to fully investigate the antitrust implications of the unprecedented merger between JBS and Pilgrim’s Pride – the world’s largest beef packer and North America’s largest broiler processor, respectively – when these firms both control and market substitutable, competing proteins, is an irrepressible defiance of President Obama’s promise to ensure competitive markets for the nation’s farmers and ranchers, including its cattle farmers and ranchers.”
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