Farm Bureau Supports Cattle Market Transparency – March 2, 2021
The American Farm Bureau Federation is calling on lawmakers to require increased transparency in America’s cattle markets. AFBF supports the Cattle Market Transparency Act of 2021, sponsored by Sens. Deb Fischer (R-Neb.) and Ron Wyden (D-Ore.). The bill focuses on ensuring robust regionally negotiated cash trade and providing producers with more pricing information.
The Cattle Market Transparency Act aligns with the goals set forth by the AFBF Cattle Market Working Group in 2020, as well as new cattle marketing policy passed at Farm Bureau’s Virtual Annual Convention earlier this year. The Cattle Market Working Group, comprised of 10 state Farm Bureau presidents, spent more than two months investigating factors that led to market disruptions following the Holcomb packing plant fire and the COVID-19 pandemic.
“America’s ranchers don’t control the prices they are paid for their products and those raising livestock have legitimate questions about pricing. When the pandemic hit, meat prices at grocery stores went up while the prices paid to farmers fell through the floor. This legislation will ensure farmers and ranchers have fair access to markets and are fully informed on pricing so they can continue to put food on the table in homes across the country,” said AFBF President Zippy Duvall. “We appreciate Senator Fischer and Senator Wyden for introducing the Cattle Market Transparency Act of 2021 and look forward to working with members of the House on a companion bill introduction.”
Read the AFBF Cattle Market Working Group Report.