Cattle market consensus still eludes Congress
House Ag hearing features testimony on need for cattle contract library but questions remain on 50/14 proposal.
Jacqui Fatka, BEEF Magazine
Oct 12, 2021
Congress continues to look for ways to address the growing disparities between cattle prices paid to producers while consumers see continued increases in beef prices. Discussion has increased over the past year; however, no clear consensus can be found as warnings against one-size-fits all approaches offer the only thing different segments of the industry agree on.
And now the clock is ticking again. Last year Congress extended for one year the reauthorization of Livestock Mandatory Reporting, and just recently Congress again punted action until December 3. LMR offers a vehicle for changes going forward if desired. But finding middle ground remains difficult.
At USDA, Secretary of Agriculture Tom Vilsack is directing steps to expand the meat processing industry with grants and loans to address bottlenecks in the food supply chain and additional money to expand processing capacity for small to medium-sized entities. He has also taken action to support the enforcement of the Packers and Stockyards Act with promised changes soon to the GIPSA rules yet this year.
In addition, President Biden issued an executive order...
Cattle contract library ...