Nebraska Cattlemen Support Cattle Market Transparency and Increasing Price Discovery
Cattle market transparency – specifically, fed cattle market price discovery – has been a headline issue for Nebraska Cattlemen members over the majority of the past decade. The Cattle Market Transparency Act of 2020 employs new ideas to address price discovery concerns while repurposing proven programs to increase cattle market transparency.
“We sincerely thank Senator Fischer for her work on this important issue to Nebraska Cattlemen members.” – Ken Herz, President, Nebraska Cattlemen. “Price discovery and market transparency are complex issues that take complex solutions.”
Items in Senator Fischer’s bill such as the cattle contract library, 14-day packer purchase commitment outlook, and clarification of USDA-LMR confidentiality guidelines to avoid non-reporting of USDA-LMR collected data on a regional and national basis will aid in increasing cattle market transparency for all producers. Additionally, directing USDA-AMS to establish regionally negotiated cash plus negotiated grid marketing volume minimums thresholds will enhances price discovery goals and commitments for the betterment of all cattle producers.
The Cattle Market Transparency Act of 2020 fits into ongoing industry efforts to afford all cattle producers the opportunity to share in the beef industry’s successful product marketing efforts both domestically and abroad.