Last week, a group of Senators introduced a bipartisan bill to increase transparency in cattle pricing. The legislation is designed to foster efficient markets while increasing competition and transparency among meatpackers who purchase livestock directly from independent producers. The bill will require that a minimum of 50% of a meat packer’s weekly volume of beef slaughter be purchased on the open or spot market. But the National Cattlemen’s Beef Association (NCBA) opposes the bill. NCBA Executive Director of Government Affairs Danielle Beck provides an update on the proposed legislation.
The bill, introduced by Senator Chuck Grassley of Iowa, was first introduced in 2002. But after discovering a discrepancy between high grocery store shelf prices and simultaneous decreased cattle prices, Grassley decided to re-introduce the legislation.
While NCBA opposes the bill, the U.S. Cattlemen’s Association (USCA) and R-CALF USA have endorsed the legislation. In a release, USCA President Brooke Miller said they commend the Senators signing on to this bill for advancing legislation that will have a real and meaningful impact on the U.S. cattle producers’ bottom line.