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Senate reintroduces Cattle Market Reform Bill

published: March 3rd 2023
source: Texas Cattle Feeders Association

A bipartisan group including Sens. Chuck Grassley (R-Iowa), Deb Fischer (R-Neb.), Jon Tester (D-Mont.) and Ron Wyden (D-Ore.) reintroduced the Cattle Price Discovery and Transparency Act of 2023 on Thursday, Feb. 2.

According to statements by the sponsors, the legislation aims to restore transparency and accountability in the cattle market by establishing regional cash minimums and equipping producers with more market information, including permanently authorizing a cattle contracts library.

“As we’ve continuously expressed, Texas Cattle Feeders Association (TCFA)  members are concerned by the unintended consequences this bill would cause as it would force cattle feeders to sell cattle in a specific way and remove their options to utilize marketing alternatives that will yield the highest return for their cattle,” said TCFA President & CEO Ben Weinheimer. “For those reasons, TCFA policy adopted by our Board of Directors opposes any legislation that would restrict how cattle can be marketed.”

A previous version of the bill was introduced in late 2021. In June, the Senate Agriculture Committee passed the legislation by voice vote, though the bill was never brought to the full Senate floor. A one-page summary of the bill is available at https://www.grassley.senate.gov/imo/media/doc/cattle_price_discovery_and_transparency_act_of_2023_-_one_pager.pdf