Lawmakers Seek Aid For Beef Producers

Agricultural lenders need to loosen up their loan requirements and the federal government to get tough on unfair trade barriers for U.S. beef producers, congressional leaders said Wednesday.

Two dozen Republican and Democratic members of the House demanded that the Clinton administration take action to help cattle ranchers who are suffering from low prices and possible excessive concentration in the beef packing industry.

The group urged Secretary of Agriculture Dan Glickman to adopt many changes suggested earlier this year in a special report on the concentration of companies in the beef industry.

Among other suggestions were: urge banks to consider a farmer’s assets and cash flow for making a loan; track retail prices against the price paid to farmers; eliminate unfair trade barriers with Europe, Canada and other nations; and monitor mergers and acquisitions in the beef packing industry for antitrust violations. , DataTimes