Ranchers from across the country have raised over $300 million to build a slaughterhouse in Nebraska, Fox News reported.
Construction on the new Sustainable Beef slaughterhouse will start this fall on 400 acres of land in Nebraska, according to Fox News.
Ranchers launch effort to build own meat plants to fight against low beef priceshttps://t.co/K0CrIoubSa
— Fox News (@FoxNews) October 16, 2021
Rusty Kemp, a Nebraska rancher, launched an effort to build a sustainable beef plant because the price of cattle, despite the rising cost of meat, continue to decline, Fox reported.
Profits in the beef market have increased steadily since 2016 but the share of every dollar spent on food that goes to ranchers has gone from 35 cents in the 1970s to 14 cents recently, according to Fox News.
“We’ve been complaining about it for 30 years,” Kemp said, reported Fox. “It’s probably time somebody does something about it.”
Four companies currently hold over 80% of the U.S. beef market at 24 plants, according to Fox News. (RELATED: Massive Meat Processing Company Mandates COVID-19 Vaccines For All Employees)
“Ranchers have been getting screwed long enough, it is time we fight back. This is how we do it, we go head to head with the big processors,” Texas Agriculture Commissioner Sid Miller said, reported Fox News.
The group plans to market its product both domestically and internationally, Fox News reported.
The Biden Administration announced last month that the United States Department of Agriculture (USDA) will provide $1.4 billion to smaller meat producers hurt by rising meat prices during the pandemic.