WASHINGTON, DC – Two cattle marketing bills that were first introduced in 2020 have been reintroduced in Congress. Both are in response to record price springs in the cattle and beef trade, beginning in August of 2019 first brought on by a fire in a major packing plant in Kansas. That was followed by the pandemic and market disruptions beginning in March 2020.
U.S. Senators Deb Fischer (R-Neb.), a member of the Senate Agriculture Committee, and Ron Wyden (D-Ore.) re-introduced the bipartisan Cattle Market Transparency Act of 2021. The legislation would restore transparency and accountability in the cattle market by establishing regional cash minimums and equipping producers with more market information.
“I am reintroducing this bill with bipartisan support. It will help facilitate price discovery and provide cattle producers with the information they need to make informed marketing decisions. I am committed to working across the aisle to advance the bill forward this Congress,” said Senator Fischer.
Another bill introduced last year has been brought forward again by U.S. Senator Chuck Grassley. The bipartisan bill will require that a minimum of 50 percent of a meat packer’s weekly volume of beef slaughter be purchased on the open or spot market.
He says the spot market protection bill would increase producer leverage against meat processors, improve price discovery, and better situate independent cattlemen and women for the fed cattle market.
Both bills have mixed support within the U.S. cattle and beef industries.
