Optimizing the Cattle Market Act of 2021 looks to change market dynamics

A bill introduced in the House seeks to change cattle market dynamics.

Missouri congresswoman Vick Hartzler introduced the “Optimizing the Cattle Market Act of 2021.” It would direct USDA to create a cattle formula contracts library and double the reporting window for “cattle committed.”

It also reiterates the need for speedy reauthorization of the Livestock Mandatory Reporting Program.

NCBA says the legislation will increase transparency and improve the opportunity for robust price discovery.

Also, NCBA and almost 40 state cattle groups have called again for a quick solution from DOJ. The association says that the lack of stability and profitability creates a problem for the entire beef supply chain.

Across the country, they are hearing the same frustrations on how leverage always seems to side with the packers. Fifty-two lawmakers have also called on the DOJ to complete its investigation and to decide if anti-competitive practices have created the imbalance in the market.

Related:

Cattle market outlook for 2021

Sen. Grassley to reintroduce cattle pricing bill

A contract library will help with cattle market transparency

Cattle industry, lawmakers call for full DOJ investigation regarding anti-competitiveness practices