A
Anonymous
Guest
High Plains,
You are exactly correct.
You list real life examples of common business practices used in the purchase and sale of feeder cattle. Unfortunately, the packer blaming segment of our industry would like to impose seperate "socialist marketing" rules for the purchase of fat cattle that would end up applying equally to the purchase of feeder cattle since a distinction will not be made.
In the packer blamer's mindset (according to arguments made in Pickett v. IBP which was the driving force behind the GIPSA rules), if the purchase of feeder cattle were to fall under the same rules the packer blamers would like to impose on the fat cattle industry, if a feeder bought feeder cattle under a forward contract and dropped his/her price for the balance of their needs in the cash market to reflect the purchases they made through forward contracts, this would constitute "market manipulation".
Had the jury's decision in Pickett vs. IBP been allowed to stand, this would have allowed lawyers to have a field day with the words "market manipulation". Is it any wonder why Judge Strom's decision to overturn the jury verdict in Pickett vs. IBP was upheld on appeal all the way to the Supreme Court?
These packer blamers will destroy this industry if they are allowed because they don't seem to understand that there will not be a distinction between the rules that apply to the purchase of fat cattle or feeder cattle. In otherwords, they simply cannot see the consequences of their short sighted decisions.
This lack of foresight is no more obvious than when they insisted on proving that an animal was born, raised, and processed in the US before the beef from those animals could be labeled as "US BEEF" under the Mandatory Country of Origin labeling law. When they found out that this required source verification to enforce, they didn't want source verification to apply to them. So now we have "CAN-MEX-USA" labels to identify non source verified beef because they refused to paticipate in what they demanded of others. Haha!
Now they want to impose this same level of logic to the GIPSA rules.
What's most interesting is that this is all based on the perception that market manipulation is occuring when they can provide no proof of it and neither could countless GIPSA investigations into cases of alleged market manipulation.
God help us if the packer blamers are ever allowed to run this industry.
Good post.
~SH~
You are exactly correct.
You list real life examples of common business practices used in the purchase and sale of feeder cattle. Unfortunately, the packer blaming segment of our industry would like to impose seperate "socialist marketing" rules for the purchase of fat cattle that would end up applying equally to the purchase of feeder cattle since a distinction will not be made.
In the packer blamer's mindset (according to arguments made in Pickett v. IBP which was the driving force behind the GIPSA rules), if the purchase of feeder cattle were to fall under the same rules the packer blamers would like to impose on the fat cattle industry, if a feeder bought feeder cattle under a forward contract and dropped his/her price for the balance of their needs in the cash market to reflect the purchases they made through forward contracts, this would constitute "market manipulation".
Had the jury's decision in Pickett vs. IBP been allowed to stand, this would have allowed lawyers to have a field day with the words "market manipulation". Is it any wonder why Judge Strom's decision to overturn the jury verdict in Pickett vs. IBP was upheld on appeal all the way to the Supreme Court?
These packer blamers will destroy this industry if they are allowed because they don't seem to understand that there will not be a distinction between the rules that apply to the purchase of fat cattle or feeder cattle. In otherwords, they simply cannot see the consequences of their short sighted decisions.
This lack of foresight is no more obvious than when they insisted on proving that an animal was born, raised, and processed in the US before the beef from those animals could be labeled as "US BEEF" under the Mandatory Country of Origin labeling law. When they found out that this required source verification to enforce, they didn't want source verification to apply to them. So now we have "CAN-MEX-USA" labels to identify non source verified beef because they refused to paticipate in what they demanded of others. Haha!
Now they want to impose this same level of logic to the GIPSA rules.
What's most interesting is that this is all based on the perception that market manipulation is occuring when they can provide no proof of it and neither could countless GIPSA investigations into cases of alleged market manipulation.
God help us if the packer blamers are ever allowed to run this industry.
Good post.
~SH~