The Australian Competition and Consumer Commission (ACCC) has released a report investigating the anti-competitive conduct and market structures at play in the Australian cattle industry. The ACCC found firstly, market prices for cattle are not transparent and therefore limit the capacity of produces to comprehend and predict the market. Secondly, the transparency of the meat grading system detracted from the integrity of the process and reduced consumer confidence in the system. Thirdly, there was evidence of conflicts of interest within saleyard transactions which has the overall effect of reducing competition for the price of cattle. The ACCC concluded current market structures are at risk of limiting industry transparency, competition and market efficiency. Uncovered evidence about anti-competitive conduct will be reviewed at a later date.
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