The beef industry’s efforts to improve its price discovery process

In an effort to resolve concerns around live cattle marketing issues, beef producers have laid out their plan to improve the industry’s price discovery process.

The National Cattlemen’s Beef Association’s Tanner Beymer said the will benefit producers in the long-run.

“It’s kind of a two-part plan... We’re calling it the ’75 percent Plan,’ but really what we’re trying to measure is negotiated trade and then packer participation in that negotiated trade,” he said. “Right now, we’re focused on all the data that we can acquire under Livestock Mandatory Reporting so that we can inform that process as best as we can... The ’75 percent Plan’ gives us a bench mark to kind of thrive towards those robust numbers so we can increase price discovery for our producers.”

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