Food distributor Maplevale Farms on Friday filed a proposed class action in Illinois against Tyson Foods, Pilgrim’s Pride and several other poultry producers alleging they conspired to fix chicken prices.
The poultry producers manipulated the price of so-called broiler chickens by coordinating and limiting production and exchanged detailed information about prices, capacity and sales volume through data compiler Agri Stats Inc., also named as a defendant in the suit, Maplevale Farms Inc. said.
The poultry producers manipulated the price of so-called broiler chickens by coordinating and limiting production and exchanged detailed information about prices, capacity and sales volume through data compiler Agri Stats Inc., also named as a defendant in the suit, Maplevale Farms Inc. said.
2 comments:
No such thing. Chicken is the cheapest thing we can buy.
1:25AM: Hey night owl, you are apparently too young to remember when chicken was much, much less expensive. I'm talking 42 cents / lb., that I can remember, to a whopping $1.48 / lb. at today's prices. The massive efficiencies that have been achieved by today's modern chicken grower operations, and the economies of scale created by mass production, have not been passed on to the consumer. I believe it when they say that there has been collusion between the major producers to manipulate prices by JOINTLY manipulating supply to the market. Otherwise, the reduced cost to the producers, and competition between them, would have created stable, or reduced prices. It's the "JOINTLY" part that makes the suit an anti-trust action.
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