Wyden, Colleagues Unveil Updated Cattle Market Reform Bill
Earlier this week, several senators introduced an updated version of the Cattle Price Discovery and Transparency Act. Senators Ron Wyden of Oregon, Jon Tester of Montana, Deb Fischer of Nebraska and Iowa’s Chuck Grassley unveiled the update to the legislation first introduced in November. The updated legislation allows for more regions, five to seven, encompassing the entire continental U.S. and then establishes minimum levels of fed cattle purchases made through approved pricing mechanisms. The update retains the cash trade mandates included in the previous version of the bill.
U.S. Cattlemen’s Association President Brooke Miller said, “USCA stands with county, state, and national producer associations across the U.S. in supporting mandatory cash trade minimums.”
National Farmers Union President Rob Larew said the legislation "would shed light on the market and bring about greater fairness.”
The updated bill also Increases penalties for violations by packers, and requires that livestock mandatory reporting data be made consistently available.
Click Here to read the updated legislation.
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