Senator Chuck Grassley (R-IA) recently shared his perspective on the one-year extension of the current Farm Bill during a recent call with agricultural reporters. In that discussion, Sen. Grassley discussed the need for a new, five-year Farm Bill, and emphasized how this type of change could better address timely market factors, especially inflation increases.
“Prices could help ease the impact of higher costs, but this should be paired with the payment limit reforms,” Sen. Grassley said, referencing his legislative efforts to ensure payments go to farmers.
When questioned about the expectations for the Cattle Price Discovery and Transparency Act in 2024, Grassley highlighted its interdependence with the Farm Bill. He stressed the significance of a comprehensive piece of legislation, stating: “I think only if we have a five-year Farm Bill, I think it’ll have to be coupled with that or we won’t. We won’t get it.”
While acknowledging potential improvements in cattle prices due to reductions in cattle numbers, Grassley noted that the current momentum might not entirely align with the urgency advocated by cattle producers. Nonetheless, he emphasized the importance of enhancing competition in cattle slaughtering to prevent concentration of control among major players.
