USDA Launches Pilot Cattle Contracts Library
Last week, the USDA launched the Cattle Contract Library pilot program. The Department of Ag says the pilot library will provide new disclosure to the industry and public regarding the key terms, conditions, and volumes under which cattle are contracted. The Consolidated Appropriations Act of 2022 directed USDA to create a pilot library to increase market transparency for cattle producers. The library will have the same look and feel as the working library model developed and shared with stakeholders last year but will now be populated with information from active contracts.
The initial release of the library will allow users to browse a range of terms and information contained in active contracts used to purchase fed cattle. National Cattlemen's Beef Association Government Affairs Government Affairs Tanner Beymer responded, “We have been looking forward to the launch of the Cattle Contract Library pilot program and will review the product to determine if its current format provides value to cattle producers.”
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