A study commission by the American Meat Institute pegged the cost at $14 billion in GDP and $1.36 billion in lost tax revenue.
The USDA will conduct a cost-benefit analysis of the so called "GIPSA Rule" that would significantly change the way livestock is marketed in the U.S. if adopted. USDA Secretary Tom Vilsack announced the analysis recently with Meat Industry officials. The National Chicken Council was one of the groups on the call- and their spokesman Richard Lobb told Dow Jones that this is the first time that they have heard USDA say they will conduct an extensive analysis.
Vilsack declined to speculate how long the review process would take, but said the rule as published June 22 was a draft and could be extensively changed before being finalized, the National Chicken Council reported in a news release.
Industry groups weighed in extensively with their concerns about the proposals during an extended comment period which ended Nov. 22, including criticizing the lack of an adequate economic analysis in the proposed rule.
To read the entire article, link here.