![]() ![]() In other words, the taxpayer foots the bill if something goes wrong. Their loans are guaranteed by a federal organization called the Farm Service Agency, so the banks don't lose money if the farmers default. Less efficient farmers are driven out of business. Using a tournament system, Tyson now compares how well each farmer is able to fatten his chickens and pays him accordingly. In the 1960s, Tyson Foods decided that running chicken farms was too risky and decided instead to leave that part of the business to contract farmers, who would take out loans to finance their operations. He used his profits to buy chicken houses and eventually bought his own hatchery and feed mill, vertically integrating his company by buying up the firms that supplied it. Chris Leonard, former Associated Press agribusiness reporter, released a book, The Meat Racket: The Secret Takeover of America’s Food Business, that takes a look at the impact the largest four packers have on the meat industry and how that consolidation has affected farmers and ranchers. Access a growing selection of included Audible Originals, audiobooks and podcasts. ![]() He headed with his wife, his son and his truck to Arkansas, where he began to invest in chickens, hauling birds from the South, where they were cheap, to Chicago, Detroit and St. The Meat Racket The Secret Takeover of Americas Food Business By: Christopher Leonard Narrated by: John Pruden Length: 11 hrs and 26 mins 4.6 (198 ratings) Try for 0.00 Pick 1 title (2 titles for Prime members) from our collection of bestsellers and new releases. ![]() After the stock-market crash of 1929, 25-year-old John Tyson left his nearly bankrupt family's farm in Missouri. ![]()
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