Biden is pushing for more competition in the meat industry during a meeting with farmers

Managers blame the decline in farmers' profits, as well as rising consumer prices, due to the small number of companies

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President Joe Biden met with farmers, ranchers and independent meat processors on Monday to discuss his plans to create a series of highly competitive offers with the hope of increasing family farm profits and lowering consumer prices.

Biden management aims to provide $ 1 billion to the American Rescue Plan to help increase independent processing capacity, and provide support that will give independent meat producers access to the cold and other facilities to improve the distribution of their products. It will also work with lenders to provide independent processors with credit and contribute money to staff training and safety, the White House said.

Managers blame the decline in farmers' incomes, as well as rising consumer prices, in small companies that control most of the meat, pork and poultry markets.

"Capitalism without competition is not capitalism - it is exploitation," Biden said during a rally on Monday. “That is what we see in meat and poultry and in those industries now. Small-scale private farmers and farmers are driven out of business, sometimes businesses that have been around for generations. "

Rising meat prices are one of the main problems in inflation that managers try to control as consumer spending measures Biden's approval numbers when it comes to his management of the economy. Total consumer prices have risen sharply in November since 1982.

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Biden said on Monday when consumers pay higher prices, farmers receive a smaller portion of that profit, and cattle ranchers bring in 39 cents per dollar for Americans who use beef compared to 60 cents almost 50 years ago.

"Big companies are making huge profits, all their profits are going up, the prices you see in grocery stores are going up equally. The prices that farmers get for the products they bring to the market are going down," Biden said. "This indicates that the market is disrupted due to lack of competition."

The White House has said it plans to work with Congress on legislation aimed at clarifying cattle markets and promoting price negotiations. Part of the management plan is the release of new laws designed to combat competitive practices by meat importers and processors and to clarify the “Product of USA” label so consumers know their meat sources.

The Department of Justice and the Department of Agriculture also announced a program on Monday that they said would make it easier for farmers and farmers to report potential practices in their industry.

“Strategies to combat agricultural competition, as in any industry, are hurting Americans, producers, consumers and workers alike. And they are hurting the American economy, "said Attorney General Merrick Garland at Monday's meeting." Too many companies are pursuing corporate ethics and aggressive integration that has put us all at risk. "