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Beef Buzz News


NCBA's Ethan Lane on The Cattle Price Discovery and Transparency Act

Thu, 18 Nov 2021 10:02:25 CST

NCBA's Ethan Lane on The Cattle Price Discovery and Transparency Act The Cattle Price Discovery and Transparency Act is a compromise of Price Discovery bills that have been filed by Senators Chuck Grassley of Iowa and Deb Fischer of Nebraska. Their goal is to return fairness to the cattle marketplace dominated by four major meatpackers by way of trade mandates and supplying more information to cattle producers.

Ethan Lane, vice president of Government Affairs for the NCBA, told Ron Hays, senior director for Radio Oklahoma Ag Network, that the NCBA has the policy to support aspects of this bill like the cattle contract library, but do not have the policy to support a government mandate on how producers market their cattle.

“As we have gone through this debate, we still have states that are very much in favor of government intervention and states that are very much opposed to government intervention,” Lane said. “This bill is interesting to me because it seems to be a real departure, specifically for Senator Grassley, from his sort of purist push for cash trade over the last couple of decades.”

Historically, Grassley has pushed for 50% mandated cash trade. According to Lane, the newly proposed bill puts a cap on the highest level on minimum trade that could be established by the USDA secretary in a region based on and tied to the lowest trade in any one region. Meaning, based on low cash-trade numbers in states like Colorado and Texas, states like Iowa would have to only mandate cash trade in about 30% of their total sales.

“That is a dramatic departure of where Senator Grassley has been on this (issue),” Lane said. “(The NCBA) does not have an opinion on the amount or volume - our producers are looking at whether or not the government should be instructive about what that is.”

Lane said the goal of the NCBA is to establish greater robust trade for cattle producers, including recognizing minimum requirements of price discovery. To Lane, this bill feels very different.

“This feels more like an effort to redistribute (alternative marketing agreement) use throughout the five areas, rather than to cap it and encourage more cash trade,” Lane said.

At this time, no bill has been filed.

Click on the LISTEN BAR below to hear more from Ron Hays and Ethan Lane as they talk about The Cattle Price Discovery and Transparency Act. If you missed yesterday’s conversation with Oklahoma Representative Frank Lucas on the bill, check it out here.

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.

   


   

Listen to Ron's conversation with Ethan here.
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