The highly concentrated cattle market continues to be a focal point in Congressional hearings as lawmakers attempt to support cattle producers through regulatory changes. The Cattle Price Discovery and Transparency Act of 2022 would require USDA to establish minimum levels of negotiated cash trade for fed cattle by dividing the country into regions.
Cattle markets have seen repeat hearings in Congress this past year, including opposing views among senators and cattle producers on Tuesday of this week in the Senate Agriculture Committee. U.S. Senator Deb Fischer (R-NE), has shepherded the legislation through the Senate, with a letter of support from the Nebraska Cattlemen organization. Tuesday’s meeting had supporters of the legislation sharing the fact that four companies control 85% of fed-cattle slaughter nationally.
Read more on the Cattle Price Discover and Transparency Act of 2022 here.
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