The new Cattle Price Discovery and Transparency Act has the support of the American Farm Bureau Federation. Micheal Clements shares more about the legislation aimed at helping cattle producers get a fair shake.
Clements: The Cattle Price Discovery and Transparency Act introduced this week seeks to provide fairness in cattle markets. Farm Bureau Congressional Relations Director Scott Bennett says the legislation is a compromise of bills by Senator Chuck Grassley of Iowa and Senator Deb Fischer of Nebraska.
Bennett: This act has many of the same tenants that we saw in Senator Fischer's bill. It would take an average of the previous 18 months to establish a mandatory minimum for each region. The mandatory minimum would be reviewed every two years and no one region could be more than 300 percent of the minimum mandatory negotiated trade of the lowest region.
Clements: Bennett says cattle market transparency is a policy objective this year for Farm Bureau.
Bennett: This bill fits squarely within American Farm Bureau policy. We support the bill, and we hope that parts of this bill are incorporated into Livestock Mandatory Reporting reauthorization. However, it is of utmost importance for Farm Bureau that Livestock Mandatory Reporting does not lapse.
Clements: Livestock Mandatory Reporting will expire December 3, unless reauthorized by lawmakers.
Bennett: Senator Fischer and Senator Grassley will be working closely with the Senate and House Agriculture Committee to get portions, if not all of this bill, into Livestock Mandatory Reporting reauthorization. If that is reauthorized, we will see an effort, then, to incorporate parts of this bill into the next authorization of Livestock Mandatory Reporting.
Clements: Micheal Clements, Washington.