The courts are still considering R-Calf’s lawsuit against the four major meat packers, which claims they conspired to depress prices.
R-Calf CEO Bill Bullard tells agoinfo.net they are waiting on the courts to approve a multi-million-dollar class action suit against JBS. As part of the agreement, Bullard says JBS would then help in the cases against the other three packers.
Bullard says right now they just have to wait.
“So the way this works is that the court will determine whether the proposed class action settlement is appropriate and equitable,” Bullard said. “And if such a determination is made, then the court would order that notice be sent to all the potential members of the class who could file a claim against the settlement.”
Any producer who sold to the Big Four packers (Tyson Foods, JBS USA, Cargill Meat Solutions, and National Beef Packing Co.) between June 2015 and February 2020 can participate in the class action lawsuit.
Expect firm calf and fed-cattle prices — pair selective heifer retention with prudent hedging and liquidity to bridge rebuilding costs.
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