Beef Buzz News
Livestock Marketing Association's Chelsea Good Working with Industry Partners to Address Post-Fire Market Concerns
Tue, 01 Oct 2019 06:28:30 CDT
Chelsea Good is vice president of government and industry affairs with the Livestock Marketing Association. Ever since the packing plant fire in Holcomb, Kansas, Good says there has been a lot of passions flaring in regard to the beef industry and price performance. In an interview on Monday with Radio Oklahoma Ag Network Farm Director Ron Hays at the Oklahoma National Stockyards, Good discussed some of the measures currently being undertaken by the United States Department of Agriculture to address those concerns and what the LMA is doing to support those efforts.
Ron Hays Beef Buzzes with Chelsea Good About Current Cattle Market Conditions
"I think people have been frustrated by pricing since the fire, especially the couple weeks following. We've seen a little bit of an uptick here lately and it is frustrating," she reiterated. "This is how people make a living, so poor prices are certainly a concern for all."
Good asserts that the method of price discovery through live auction, as practiced by LMA member markets, has been essential in mitigating some of the affects of the fire on recent market dynamics. In the meantime, though, the USDA has launched an investigation into exactly what impact the fire has had on the markets. Good says the LMA fully supports these investigations in addition to the process that is underway to reauthorize mandatory price reporting, which takes place every five years.
"Mandatory price reporting is a law requiring packers report prices. So, we'll see a reauthorization again in 2020 and I think we're going to take a look at that study and those results at USDA as we work with our industry partners to determine what changes if any, we want to see as part of this mandatory price reporting reauthorization."
Listen to Good's full discussion with Hays on today's Beef Buzz, over USDA's investigations into recent cattle market activity.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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