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US House Agriculture Committee discussing Johnson, Cuellar "Cattle Contract Library Act of 2021"

US House Agriculture Committee discussing Johnson, Cuellar "Cattle Contract Library Act of 2021"
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KBHB Radio - Makeup of policies, politics changing amid unified push to find solutions in meat markets

Makeup of policies, politics changing amid unified push to find solutions in meat markets
WASHINGTON, DC – The world’s largest meat packer considered the makeup of the U.S. meat industry sitting around the table at a recent closed-door and decided they didn’t want to take a seat.
JBS USA, a unit of the Brazilian meat conglomerate JBS SA, has left the National Cattlemen’s Beef Association (NCBA) in a surprise move that comes as the group began taking a harder line on concerns about market consolidation.
The news came as NCBA and other rancher and producer organizations have begun actively lobbying for more transactional transparency in the beef market – including more investigation by the US Department of Justice (DOJ) into the prices cattle producers are getting versus what packers are getting and what consumers are paying. ....

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KBHB Radio - CME Group launches Boxed Beef Index

CME Group launches Boxed Beef Index
CME Group/NAFBMarch 15, 2021Agriculture News
MPR Photo by Stephanie Paige Ogburn
CHICAGO, IL – The CME Group has begun publishing a new Boxed Beef Index. The new pricing tool is designed to provide the beef industry with better price discovery by focusing on the prices paid for Choice and Select beef cuts.
Tim Andriesen, the Managing Director of Agricultural Products for the CME Group says the idea for the index started with the Pork Cutout futures and options launched late last year. “We launched the Pork Cutout futures and options in November of last year, which settles against the CME Pork Cutout Index. That’s something we’ve been publishing since 2015.” ....

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U.S. Cattle Producers Rally Around the Cattle Market Transparency Act of 2021 - AG INFORMATION NETWORK OF THE WEST

U.S. Cattle Producers Rally Around the Cattle Market Transparency Act of 2021
Thursday Mar 4th, 2021
U.S. Senators Deb Fischer (R-NE) and Ron Wyden (D-OR) have introduced the Cattle Market Transparency Act of 2021. The legislation seeks to accomplish two main goals: ensuring regionally sufficient negotiated cash trade, and equipping producers with more information to aid marketing decisions.
Other cosponsors of the bill include Senators Cindy Hyde-Smith (R-MS) and Mike Braun (R-IN).
United States Cattlemen’s Association (USCA) President Brooke Miller issued the following statement:
“USCA applauds Senators Fischer and Wyden for bringing forth a dynamic piece of legislation for a dynamic industry. The current conversations on increasing transparency and price discovery in the cattle marketplace began at the 2020 Winter Thaw in Billings, Montana, where USCA brought together industry leaders to brainstorm solutions to a thinning cash market. Those so ....

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Congress again looks to improve cattle market woes

After the Holcomb fire and fallout from the COVID pandemic, cattle producers went looking for answers on improving market transparency. In an ongoing effort to provide a legislative response, Sen. Deb Fischer, R-Neb., joined with Sen. Ron Wyden, D-Ore., to offer the Cattle Market Transparency Act of 2021 to ensure robust regionally negotiated cash trade and provide producers with more pricing information.
The bill builds off the recommendations provided by USDA in its Boxed Beef and Fed Cattle Price Spread Investigation Report and discussions producers across the U.S. are having in response to historically low cattle prices and a dysfunctional marketplace. In response to the introduction, the bill was welcomed by industry players including the U.S. Cattlemen’s Association and the American Farm Bureau Federation, but each group left the door open for the need for additional discussion on the hotly debated topic that has varied by region and producer type. ....

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