The U.S. Department of Agriculture has announced that it will conduct a cost-benefit analysis of the rule on livestock and poultry production and marketing proposed by the Grain Inspection, Packers and Stockyards Administration.
This decision comes on the heels of industry concerns with regards to the perceived lack of an adequate economic analysis of the proposed rule. “A serious and robust analysis of the economic impact of the proposed GIPSA rule is long overdue,” said National Chicken Council Senior Vice President and Chief Economist Bill Roenigk. “The rule will have a profound, far-reaching and costly impact on the poultry and livestock industries, and it should not have been put forth without an appropriate analysis of its impact on farmers and ranchers, the industry and consumers.”
In addition to the analysis, Agriculture Secretary Tom Vilsack said teams are being put together within the USDA to study the thousands of comments submitted during the rule's comment period, which ended on Nov. 22. Vilsack would not speculate on the length of time needed to go through the comments, but did say that the rule as it currently stands is a draft and could be extensively changed before being finalized.