We told you last week that more than a dozen state cattle organizations voiced their support for the Cattle Market Transparency Act. In a letter to Senate Agriculture Committee leadership, the groups said the bill “will aid in cattle market transparency for all producers.” Alabama Cattlemen’s Association (ACA) Executive Vice President Erin Beasley says they were happy to join other states in this effort.
Introduced by Senator Deb Fischer of Nebraska, the Cattle Market Transparency Act 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. Plus, the bill directs the U.S. Department of Agriculture’s (USDA’s) Agriculture Marketing Service to establish regionally negotiated cash plus negotiated grid marketing volume minimums thresholds that enhance price discovery goals and commitments.