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2002/07/24

Livestock Price Crisis Meeting In Memphis July 26 Mississippi Cattlemen's Association, Louisiana Cattlemen's Association, The Organization for Competitive Markets (OCM), Southern Livestock Review, and R-CALF (USA) will hold a Livestock Price Crisis Meeting in Memphis on July 26, 2002. The meeting will be held from 9:30 am to 4 pm at Agricenter International in East Memphis. This will be an informational session on market failures with a focus on potential solutions. Attendees will vote on their top market competition priorities at the end of the meeting. All U.S. livestock producers are invited to attend. U.S. livestock producers are suffering from a devastating price crash, which is not explained by the market fundamentals. Large numbers of producers have lost substantial amounts of money and equity. Yet, meat packers and retailers are increasing margins and profits. In fact food giant Tyson/IBP reported their fiscal second quarter net earnings had increased $65 million, as of March 30. Retail supermarket profits have increased even more than packer profits. While antitrust law is designed to address this mis-allocation of resources and profits, enforcement agencies have been less than equal to the task. Presentation topics: 1. Packer Concentration: The problem of monopoly; 2. Captive Supplies: Shrinking demand in the cash market; and 3. Rebirth of the Packers & Stockyards Act: Pickett v. IBP and newly filed antitrust cases against the Big 3. 4. Futures Markets: To fix or to ditch The Place: Agricenter International, 7777 Walnut Grove Road, Memphis, TN (901-757-7777) The Time and Date: 9:30 am to 10 pm, Friday, July 26, 2002 Invitees: All U.S. livestock producers Presenters (subject to change): Don Dowdle, editor, Southern Livestock Review Fred Stokes, President, OCM * Market competition: problems and solutions Leo McDonnell, President, R-CALF USA * International trade issues: problems and solutions Dr. Jim Anderson, President, Mississippi Cattlemen's Association * Problems and solutions in the markets David Domina, attorney, Domina Law * Overview of the Pickett v. IBP cattle case Robert Taylor, ag economist, Auburn University * The anatomy of market power: packing and retail Michael Stumo, general counsel, OCM * Is it efficiency or market power? Luke Schweiterman, livestock futures broker * The Merc: To fix or to ditch Steve Holland, Chairman, Mississippi House Ag Committee * Country of origin labeling in Mississippi Significant open microphone period The Organization for Competitive Markets is a multidisciplinary, nonprofit group of farmers, ranchers, academics, attorneys, and policy makers dedicated to reclaiming the agricultural marketplace for independent farmers, ranchers and rural communities. For more information, call one of the sponsors or (800) 869-7941.

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