USDA’s Cattle Contracts Library Pilot Program Online
For years USDA has published data on base and net prices for cattle transactions, but there hasn’t been a lot of information in between; until now. Taylor Cox with USDA's Ag Marketing Service said the new online Cattle Contracts Library Pilot Program is up and running, giving contract information on more than just the base and net prices Packers are offering. And Cox noted with most transactions.
“The load of cattle for example will go through a series of premiums and discounts. And that's what this library showcases is the most heavily used premiums and discounts and we certainly plan to expand on that as we understand the contracts better.”
Cox noted this is a pilot project designed to answer a very simple question:
“Is this a useful tool? Can it producer take this easily understand and digest it? And use it in their business model?”
Cox says the project will expire end of September, but Congress could vote to make it permanent. Visit the USDA's Website to check out the Cattle Contracts Library Pilot Program.
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