Ag Policy Blog

Sens. Chuck Grassley, R-Iowa, Deb Fischer, R-Neb., Ron Wyden, D-Ore., and Jon Tester, D-Mont., and 18 other cosponsors on Thursday introduced the bipartisan Cattle Price Discovery and Transparency Act of 2023.

The bill is reintroduced after getting extensive discussion in the last Congress, but did not receive any floor votes.

The legislation would establish regional cash minimums and equip producers with more market information, including permanently authorizing a cattle contract library.

Grassley, Fischer, Wyden, and Tester first introduced the Cattle Price Discovery and Transparency Act last Congress. In June, the Senate Agriculture Committee passed the legislation by voice vote, but the full Senate did not consider it. With Fischer and Grassley, at least eight of the senators who co-sponsored the bill are on the Agriculture Committee.

"Family farmers and ranchers need open and transparent cattle markets in order to receive fair prices," said National Farmers Union President Rob Larew.

"We must preserve and promote the cash market as a competitive option. The reintroduction of the Cattle Price Discovery and Transparency Act is another important step in Farmers Union's efforts to seek more transparency and fairness in cattle markets."

U.S. Cattlemen's Association President Justin Tupper said, "The U.S. cattle industry is cyclical by nature -- there are 'up' years and 'down' years."

"But for producers, those up years come far too few and in between the down years due to an increasingly consolidated industry. Restoring fair and competitive market practices is essential to leveling the playing field for U.S. producers.

"This bill gives producers access to valuable information that can help them make better -- and more profitable -- marketing decisions."

Fischer's news release also included comments of support from Nebraska Farm Bureau and Nebraska Cattlemen even though their national organizations, the American Farm Bureau Federation, and National Cattlemen's Beef Association, both opposed the bill in the last Congress.

The Cattle Price Discovery and Transparency Act of 2023 https://www.grassley.senate.gov/…

Issue and Solution: https://www.grassley.senate.gov/…

Summary: https://www.grassley.senate.gov/…

Also see, "Cattle Contract Library Website Goes Live," https://www.dtnpf.com/…

Chris Clayton can be reached at Chris.Clayton@dtn.com

Follow him on Twitter @ChrisClaytonDTN

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