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Nebraska Senator Fischer introduces cattle market transparency bill

Nebraska Senator Deb Fischer has introduced legislation that she says would “restore transparency and accountability in the cattle market”.

Among other things, the bill requires the Secretary of Agriculture to establish mandatory thresholds of negotiated cash trades, on a regional basis, in the fed cattle market. It also requires USDA to create and maintain a library of marketing contracts between packers and producers, and requires packers to supply that information to USDA.

Reacting to Fisher’s bill, the National Cattlemen’s Beef Association points out that it is in the process of developing a voluntary approach to price discovery and wants to see if a voluntary framework will work before it can support regional mandatory minimums for negotiated trade.

The U.S. Cattlemen’s Association says it is still reviewing the bill but welcomes Senator Fischer’s efforts to address “historically low cattle prices and a dysfunctional marketplace”.