A new cattle market compromise bill is getting mixed reactions in the industry. The bill will establish regional mandatory minimums of negotiated cash and grid trades, and require packers to report slaughter cattle forecast numbers for two weeks out.
Farm Bureau backs the bill. The North American Meat Institute says that the bill replaces the free market with government mandates. Sen. Chuck Grassley says that NAMI is siding with the packers.
According to the Senator, “The position that they are taking is not support of the family farmer, and they out to realize it. 2 percent of the people in this country are feeding the other 98 percent and the American Meat Institute ought to be doing everything they can to keep the family farmers strong.”
The formal legislation will be introduced in the coming days.
Grassley says that he hopes it will be included in the livestock marketing legislation, which must be renewed by December 3rd.
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