Agricultural News
Improved Cash Cattle Trade Vigorously Debated at Summer Cattle Industry Business Meeting
Thu, 30 Jul 2020 05:48:41 CDT
SIX HOURS! That's how long the NCBA Live Cattle Marketing Committee met in Denver on Wednesday- chasing the goal of improving Price Discovery for the fed cattle market- and eventually developing a compromise which was dictated in real time to staff and seen by everyone in the Committee room on the screen.
The resolution that came together after several hours of back and forth states "NCBA supports a voluntary approach that:
1. Increases frequent and transparent negotiated trade to a regionally sufficient level, to achive robust price discovery determined by NCBA funded and directed research in all major cattle feeding regions and
2. Includes triggers to be dtermined by a working group of NCBA producer leaders by October 1, 2020.
Be it further resolved, if the voluntary approach does not achive robust price discovery as determined by NCBA funded and directed resaearch, and the meet the established triggers that increase frequent and transparent negotiated trade to a regionally sufficient level, and triggers are activated, NCBA will pursue a legislative or regulatory solution.
Be it further resolved, NCBA will support a three year review/sunset provision on any negotiated trade solutions mplemented to allow for a thorough cost benefit analysis to be conducted."
Bottom line that came out of the meeting- state cattle groups agree that NCBA will aggressively pursue a voluntary path but if that fails- a regulatory/legislative solution can and will be explored
Passions were high and relief was obvious for what was accomplished- which was achieved after the Chair called for a five minute recess that lasted 30 minutes- the picture here is of the hallway scrum with State Cattle Execs along with a couple of past Presidents of NCBA talked for an extended time about language that might break the logjam.
After the meeting ended- we talked to several cattle industry leaders- including Oklahoma Cattlemen's Association President Mike Weeks and OCA Executive Vice President Michael Kelsey- click on the LISTEN BAR below to hear their thoughts and our commentary on the session.
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