Beef Buzz News
Widespread Industry Support Helped Get The Livestock Dealers Statutory Trust Law Passed Says LMA's Chelsea Good
Wed, 03 Feb 2021 09:14:09 CST
Widespread industry support for the Livestock Dealers Statutory Trust law helped get it passed before the end of 2020 said Chelsea Good, vice president of government and industry affairs for the Livestock Marketing Association.
The Livestock Dealers Statutory Trust was signed into law as part of the Covid relief legislative package and during a conversation with Radio Oklahoma Ag Network Farm Director Ron Hays Good explained how the law will work.
The LMA was a major player promoting it but not the only group, Good said.
We had good support from the livestock industry as a whole, she said.
From a big picture perspective, we had a great coalition but there were some concerns out of Texas that the USDA wanted to look into, she said.
The USDA wanted to study the issue for a year to make sure it was well vetted, she said.
They wanted to make sure it wouldn’t hamper the credit availability for livestock dealers, she said.
The law went into effect end of 2020 and is now in place to protect cattle producers.
The way it works is if within 30 days of not receiving a check or if a bad check is received within 15 days, they would need to file a claim with the USDA to preserve their statutory trust rights, Good said.
The LMA official said there are several other issues the group is watching.
Covid is not over so we need to make sure processors are open and operational, she said.
We need to make sure people get vaccinated so we can keep the supply chain moving and have the restaurants open, she said.
She said this is especially necessary for the higher end cuts normally sold in restaurants.
I think we also need to have some additional conversations about our tight packing capacity, Good said.
Also, price discovery, especially for fed cattle need to be addressed, she added.
I think these are going to be pretty big topics going forward this year, she said.
Click on the LISTEN BAR below to hear more of Ron’s interview with Chelsea Good.
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.
Ron Hays Beef Buzzes With Chelsea Good
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
New Research Explores the Pros and Cons of Cash Cattle Markets in the U.S. Fri, 24 Sep 2021 10:16:19 CDT
New Research Shows Grid Market System Adds $700 Million in Value to U.S. Beef Thu, 23 Sep 2021 11:19:06 CDT
Don Close, VP of Rabo AgriFinance Explains How Beef Won Over the Chinese Consumer Wed, 22 Sep 2021 10:39:31 CDT
OCA's Michael Kelsey: We Need to Take a Pause on Issuing New Medical Marijuana Grower Permits Tue, 21 Sep 2021 13:19:27 CDT
NCBA's Josh White Says Beef Quality Assurance Produces Better Beef Mon, 20 Sep 2021 10:35:46 CDT
Certified Angus Beef Program is a Win for Producers, Processors and Consumers Says John Stika Fri, 17 Sep 2021 10:48:26 CDT
John Stika Believes the Pandemic Shows Consumers Want High Quality Beef Thu, 16 Sep 2021 08:07:17 CDT
Dr. Jody Wade's Advice to Cattle Producers is Stay Ahead of BRD Wed, 15 Sep 2021 13:14:02 CDT
Katelyn McCullock Sees High Hay Prices in the U.S. Tue, 14 Sep 2021 10:49:50 CDT
NCBA's Ethan Lane Believes mCOOL is Old News Mon, 13 Sep 2021 11:15:37 CDT
NCBA's Ethan Lane Heard Little New in White House Briefing on Competition Fri, 10 Sep 2021 11:45:17 CDT
Dan Halstrom Predicts 2021 Will Be a Record Year for U.S. Beef Exports Thu, 09 Sep 2021 11:15:04 CDT
Dietician Shalene McNeill Says Consumers Enthusiastic About Including Beef in Their Diet Wed, 08 Sep 2021 09:25:33 CDT
Shalene McNeill on Why You Should Feed Your Baby Beef Tue, 07 Sep 2021 12:20:07 CDT
Randy Blach Says Sustainability is an Opportunity for Beef Cattle Industry Mon, 06 Sep 2021 05:00:35 CDT
Although Beef Demand is High, Dollars are Slow to Trickle Down to Producers Fri, 03 Sep 2021 12:25:25 CDT
Dr. Harold Newcomb Says Strategic Deworming Helps Your Bottom Line Thu, 02 Sep 2021 09:33:31 CDT
Carbon Markets: The Wild West of Free-Market Enterprise Wed, 01 Sep 2021 10:38:53 CDT
Biden Administration Intent on Dumping Trump Era Navigable Waters Protection Rule Tue, 31 Aug 2021 16:57:44 CDT
NCBA's Scott Yager Says Redefining WOTUS Will Be Repetitive Mon, 30 Aug 2021 11:18:40 CDT
Mark Your Calendars for the Second Annual Cattlemen's Congress Fri, 27 Aug 2021 11:46:50 CDT
More From NCBA's Kent Bacus on Why Beef Exports to China, Japan and Korea Work Thu, 26 Aug 2021 11:36:51 CDT
U.S. Beef is Bustling in the Pacific Rim Says NCBA's Kent Bacus Wed, 25 Aug 2021 08:32:01 CDT
Bruce Hoffman Talks Treating Bovine Respiratory Disease Tue, 24 Aug 2021 09:29:20 CDT
OSU's Derrell Peel Says August Cattle on Feed Report Shows Tighter Cattle Supplies Ahead Mon, 23 Aug 2021 13:24:14 CDT
Randy Blach Believes Better Quality Cattle Brings Great Eating Experience to Consumers Fri, 20 Aug 2021 09:17:27 CDT
Dan Halstrom: There are Concerns Despite High Exports of Beef and Pork Thu, 19 Aug 2021 10:42:01 CDT
U.S. Beef. It's What's for Dinner, Globally Wed, 18 Aug 2021 10:23:41 CDT
NCBA Continues Work With Members and Congress in Improving Market Transparency and Cash Cattle Trade Tue, 17 Aug 2021 10:29:42 CDT
Ethan Lane Says All Eyes are on Transfer Taxes Mon, 16 Aug 2021 09:34:18 CDT
Scott Yager on What New Methane Measurements Mean for the Cattle Industry Fri, 13 Aug 2021 10:05:46 CDT
CattleFax VP Kevin Good Says Cattle Market Leverage is Moving Toward Producers Thu, 12 Aug 2021 09:20:34 CDT
NCBA's Danielle Beck on How the Biden Administration Plans on Funding Their Goals for the U.S. Wed, 11 Aug 2021 09:53:56 CDT
NCBA President Jerry Bohn Talks How the Biden Administration Could Impact Beef Producers Tue, 10 Aug 2021 11:36:01 CDT
Oklahoma National Stockyards President Kelli Payne Talks Resiliency Amid the Coronavirus Pandemic Mon, 09 Aug 2021 21:39:00 CDT
