The White House has now announced a new plan to try and stop meat prices from continuing to spiral out of control.
As The Hill reports:
The White House on Monday announced plans aimed at addressing rising prices for meat and poultry, including setting aside $1 billion for smaller producers.
The Biden administration unveiled its action plan to diversify and strengthen the meat-producing supply chain ahead of a scheduled virtual meeting between President Biden and independent farmers and ranchers.
The White House has previously pointed to a small number of conglomerates for driving higher meat and poultry prices, which have been a major contributor to broader inflation in recent months.
“When dominant middlemen control so much of the supply chain, they can increase their own profits at the expense of both farmers — who make less — and consumers — who pay more,” the White House said in a fact sheet announcing its action plan on Monday. “Most farmers now have little or no choice of buyer for their product and little leverage to negotiate, causing their share of every dollar spent on food to decline.”
The billion dollars will be funneled toward independent meat producers to allow them to produce meat more efficiently.