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The Packers and Stockyards Act of 1921 (7 U.S.C. §§ 181-229b; P&S Act) regulates meatpacking, livestock dealers, market agencies, live poultry dealers, and swine contractors to prohibit unfair or deceptive practices, giving undue preferences, apportioning supply, manipulating prices, or creating a monopoly.
The Packers and Stockyards Act provides the Secretary of Agriculture the authority to set rates to be paid by agencies for services rendered. Under the Act, however, two conditions are put upon the exercise of this power: (1) The Secretary must be of the opinion that the existing rate is unjust, and (2) this opinion must be the result of a full hearing.
Morris & Company was founded by Nelson Morris in Chicago. [1] In 1902, with Nelson's son Edward Morris as president, it agreed to merge with the other two (Armour & Company and Swift & Company) to form a giant corporation called the National Packing Company. [2]
The law was passed in 1921 as part of the Packers and Stockyards Act (7 U.S.C. §§ 181-229b; P&S Act) which was passed in order to "regulate interstate and foreign commerce in live stock, live-stock produce, dairy products, poultry, poultry products, and eggs, and for other purposes."
Richardson’s was able to process 2,000 hogs per day at its beginning, [6] and by the end of 1874 was processing 6,000 per day. [2] Other packing companies began to arrive right on their heels. The St. Louis Beef Canning Company relocated to the Stockyards in 1879, [6] and was followed closely by plants owned by the big-name meatpacking firms.
In 2023, just under 13% of Illinois workers were union members, which was a record low. Since 2004, the American Federation of State, County and Municipal Employees (AFSCME) Council 31 has seen ...
"The rise of the Chicago packers and the origins of meat inspection and antitrust," Economic inquiry (1992) 30#2 pp 242–262. Magill, ed., Frank N. "The Supreme Court upholds Prosecution of the Beef Trust," in Great Events from History II: Business and Commerce Series Volume 1 1897-1923 (1994) pp 107-111
Under the executive order, the Department of Agriculture (USDA) is directed to consider new department rules that would strengthen enforcement of the Packers and Stockyards Act in order to make it easier for farmers to bring and win claims. The FTC is additionally directed to consider new initiatives to prevent equipment manufacturing companies ...