Cattle market act looks to add market transparency


Cattle market act looks to add market transparency

The executive vice president of the Missouri Cattlemen’s Association says the Cattle Market Transparency Act of 2020 would provide producers the information needed to better market their cattle.

Mike Deering tells Brownfield formula transactions are not reported in the cattle market and that information is held by the USDA because of confidentiality guidelines…

“If you remove those, [you] get the data out there and stop the market suppression and allow us to know what the value of cattle is,” he said.

Deering said the house bill, sponsored by Missouri’s Vicky Hartzler, and the corresponding senate bill, sponsored by Nebraska’s Deb Fischer, are legislation that all cattle producers should be able to support.

“They’re trying to pass legislation to move the ball forward that will allow the market to work,” he said.

The act would direct the USDA to create a library of records of contracts between packers and producers, require the ag secretary to regionally establish levels of negotiated cash trade and mandate packers to report cattle scheduled for delivery and slaughter two weeks in advance.

Mike Deering Interview