LINCOLN, Neb. — Cattle market transparency – specifically, fed cattle market price discovery – has been a headline issue for Nebraska Cattlemen members over the majority of the past decade. The Cattle Market Transparency Act of 2021 employs new ideas to address price discovery concerns while repurposing proven programs to increase cattle market transparency.
“We sincerely thank Senator Fischer for her work on this important issue to Nebraska Cattlemen members.” – William Rhea III, President, Nebraska Cattlemen. “Price discovery and market transparency are complex issues that take complex solutions.”
Items in Senator Fischer’s bill such as the cattle contract library, 14-day packer purchase commitment outlook, and clarification of USDA-LMR confidentiality guidelines to avoid non-reporting of USDA-LMR collected data on a regional and national basis will aid in increasing cattle market transparency for all producers. Additionally, directing USDA-AMS to work with economists and industry to establish regionally negotiated cash, plus negotiated grid marketing volume minimum thresholds will enhance robust price discovery goals and commitments for the betterment of all cattle producers.
The Cattle Market Transparency Act of 2021 fits into ongoing industry efforts to afford all cattle producers the opportunity to share in the beef industry’s successful product marketing efforts.
The Nebraska Cattlemen association serves as the representative for the state’s beef cattle industry and represents professional cattle breeders, ranchers and feeders, as well as county and local cattlemen’s associations. Its headquarters are in Lincoln with satellite offices around the state to best serve members.
— Nebraska Cattlemen
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