Beef Buzz News
NCBA's Ethan Lane Says Progress is Being Made on Establishing Robust Price Discovery
Fri, 16 Oct 2020 08:12:41 CDT
Establishing a robust price discovery system has been a hot topic in recent months, especially following the summer meeting of the National Cattlemen's Beef Association where members voiced a strong desire for action.
Ron Hays Beef Buzzes With Ethan Lane
Ethan Lane, NCBA vice president of government affairs, recently visited with Radio Oklahoma Ag Network Farm Director Ron Hays for an update on the price discovery action.
A subgroup was appointed to establish negotiated trade thresholds or triggers. If triggers are not met, NCBA will seek bolder solutions from Congress, Lane said.
The subgroup includes NCBA members from Iowa, Nebraska, Kansas, Texas and others that represent a wide range of views.
The subgroup reported their efforts to the full working NCBA committee Oct. 1 and NCBA President Marty Smith is communicating with their membership on the group's activity.
What's been created here is a framework to assess if we are getting to the negotiated trade numbers needed to generate robust price discovery, Lane said.
Lane noted they are using tons of data gathered over the years to determine the best numbers.
We're always looking at the bottom line and the goal is that our members are getting paid for what they produce and if we don't have adequate robust price discovery, we can't assure that is happening, Lane said.
For example, in Texas, the data says we need a weekly trade of 6 to 13,000 head traded or negotiated so our framework seeks out a constant level in excess of where they are now, so we are making progress, Lane said.
Lane said they support a "75 percent plan" which would help create the structure for the constant level needed for adequate price discovery.
It basically requires 75 percent of the top end of the negotiated trade, 75 percent of the time in 75 percent of the region, Lane said.
Kansas and Iowa are in different regions and need different amounts of robust trade and what we are trying to do is drill down to the unique regional needs and make sure they are doing their part in contributing to price discovery, Lane said.
Click on the LISTEN BAR below to hear more of Ron's interview from Ethan Lane.
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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