Discuss and analyze beef packer ownership and concentration in the United States. Analyze and discuss the change in beef packer ownership structure in the last 25 years. Include expansion of new packing plants that could be built in the new future. If new plants are being built, please discuss your conclusion for the market impact for fed cattle prices, and why. Please discuss who has the market leverage as it relates to fed cattle pricing, the packer or the producer/rancher/feeder and why.