In this file:
· More transparency coming for cattle markets, meat processing
… Agriculture Secretary Tom Vilsack told the media that over the next few months the USDA is planning to make some moves to improve transparency in the cattle markets and increase meat processing capacity…
· Optimizing the Cattle Market Act of 2021
… a bill to allow for greater price discovery and transparency in the cattle market…
More transparency coming for cattle markets, meat processing
By Tyler Mickelson, WEAU (WI)
Jun. 8, 2021
ALTOONA, Wis. (WEAU) - Ongoing complaints from the livestock industry concerning too much consolidation in the packing industry, along with a lack of transparency in pricing and now the hacking of JBS plants around the world seems to have gotten the attention of the powers that be in Washington. Agriculture Secretary Tom Vilsack told the media that over the next few months the USDA is planning to make some moves to improve transparency in the cattle markets and increase meat processing capacity to relieve some of the market consolidation enjoyed by just a hand full of packers.
Meanwhile in the Senate, Iowa Republican senator Charles Grassley said last week’s cyber attack on JBS shows the risks to the industry and to farmers’ livelihoods. He has re-introduced a bill he co-sponsored in March that would require packers to buy at least half of their weekly livestock run on the open market and not through pre-negotiated contracts. Another proposed bill in the Senate would set a regional minimum cash price for cattle and increase reporting requirements for packers...
Optimizing the Cattle Market Act of 2021
By Julie Harker, Brownfield
June 8, 2021
Two U.S. Representatives from Missouri, from both sides of the aisle, have introduced a bill to allow for greater price discovery and transparency in the cattle market.
Congressman Emanuel Cleaver, a Democrat, says it’s critical to help Missouri and all cattle ranchers after their valiant efforts to keep food on the tables of Americans during the pandemic.
Republican Congresswoman Vicky Hartzler says the bill will equip producers with more tools and information to succeed. She says the Optimizing the Cattle Market Act will restore accountability in the industry.
If enacted, the bill would direct the (USDA) to create a cattle formula contracts library and increase the reporting window...