More than a dozen state cattle organization voice their support for the Cattle Market Transparency Act. In a letter to Senate Agriculture Committee leadership, 16 state cattle groups say the bill “will aid in cattle market transparency for all producers.”
Led by the Nebraska Cattlemen’s Association, the group says, “our respective organizations do not ask for any type of market manipulation or guaranteed profit.” Rather, they seek readily available information to allow cattle producers the ability to make informed and educated decisions.
Introduced by Senator Deb Fischer, a Nebraska Republican, the bill includes the cattle contract library, 14-day packer purchase commitment outlook, and clarification of Livestock Mandatory Price Reporting confidentiality guidelines to avoid non-reporting of collected data on a regional and national basis.
Additionally, the bill directs the Department of Agriculture’s Agriculture Marketing Service to establish regionally negotiated cash plus negotiated grid marketing volume minimums thresholds that enhance price discovery goals and commitments.
(From the National Association of Farm Broadcasters)