Remember the last time the packer blamers were hoisting their beers to victory only to have the decision reversed?
Let's put this decision into proper perspective shall we?
THE ALLEGATION WAS $43 MILLION DOLLARS IN DAMAGES. The $9.25 million awarded is ONLY 21% of the alleged damages.
What does that tell you about the legitimacy of the plaintiff's allegations?????
Tyson slaughters 10.5 Million cattle in a year. Tyson was fined $4 million in damages. That's a whopping $.38 per head in damages for the year for Tyson.
That's how you put this into proper perspective.
Once again, the plaintiff's allegations ($43 Million in damages) were proven to be the same bogus bullsh*t we have come to expect from the same packer blaming crowd.
Has anyone provided the evidence that PROVES the packers knew of the falsely reported prices and bought accordingly?
What was that proof? Let's hear it. I haven't heard it yet.
This $9.25 million verdict only says that producers were short changed due to USDA's flawed price reporting and should be compensated but I haven't heard the evidence that suggest the packers knew the boxed beef prices were wrong and still lowered their cattle prices accordingly.
The jury threw the plaintiffs a bone because nobody could deny that the USDA falsely reported prices nor could anyone deny that the packers benefitted from those faulty reported prices.
That doesn't prove a PSA violation as the packer blamers are claiming. The only way it could be a PSA violation is if there is solid evidence to prove that the packers knew that the USDA's numbers were faulty and did not adjust their prices. Does anyone have that proof? If so, let's hear it.
I challenge anyone to show me the proof that Tyson, Excel, and Swift knew about the faulty prices before it was announced. That proof is the proof that is necessary to claim a PSA violation.
Incidentally Conman, Herman said in his testimony (paraphrasing) that boxed beef prices were the single biggest factor affecting live cattle prices? How many times have I said live cattle prices track with boxed beef prices and how many times have you questioned that using Canada's BSE situation as proof to the contrary? Did you question Herman's court statement you damn hypocrite?? I didn't think so!
You'll divert that one I'm sure!
Consider how that statement directly contradicts Herman's co-plaintiff's, (Mike Callicrate's) previous statements that "cattle prices have nothing to do with supply and demand and are totally arbitrary". That is an absolute contradiction. You see, you packer blamers simply cannot keep your arguments consistant.
This is not a victory for the packer blamers until someone provides me the evidence that proves that Tyson, Excel, and Swift absolutely knew that USDA's numbers were flawed and failed to adjust their prices accordingly. Awarding the plaintiffs 21% of their allegation is nothing more than "thowing the plaintiff's a bone" due to USDA's mistake.
Claiming the packers were guilty of a PSA violation and market manipulation is not what the award was based on. The award was based on the fact that the packers profited unjustly due to the USDA's faulty reporting. Nowhere does it prove that the packers knew that USDA's prices were in error until it was announced.
Let's see if even that stands at the appeals court level.
How anyone could believe that the packers are to blame for USDA's faulty price reporting is taking packer blaming to another level.
Keep hoisting them beers boys, those damages IF AWARDED will cost feeders an extra $.38 per head until they are recovered. Some victory!
~SH~