US cattleman blames losses on beef price errors

US cattleman blames losses on beef price errors

Yahoo News / Reuters

ABERDEEN, South Dakota (Reuters) – Roger Koch, a Nebraska cattle producer, testified in federal court on Monday that because of beef price reporting errors in 2001 by the U.S. Agriculture Department he lost $48 a head on cattle he sold at that time.
Koch and two other cattlemen are suing the nation’s four largest beef companies claiming they knew of the errors and used that knowledge to depress the prices they paid for cattle.

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