USDA’s Greg Ibach on negotiated cash trade in cattle
A top USDA official says that there is some merit to calls for a higher percentage of negotiated cash trade in the cattle industry.
Greg Ibach, with the USDA and a cattle rancher, says that he is concerned about price discovery in the cattle industry. Also, that it is likely to be an issue as Congress discusses the reauthorization of mandatory price reporting later this year.
Some organizations say that the current percentage of negotiated cash trade, which runs around 20 percent nationwide, needs to be closer to 50 percent.