Gaining transparency in cattle pricingGaining transparency in cattle pricing
The beef industry has been pushing for better, more public, pricing information and USDA has delivered. We get insight from beef producers about what it means.
March 17, 2023
USDA recently instituted a Cattle Contracts Library Pilot Program at the urging of the beef industry. The goal is to provide more transparent information for producers to understand price trends in local markets. Jennifer Carrico, Wallaces Farmer, talked with two beef industry representatives during the 2023 National Cattlemen’s Beef Association Cattle Convention in New Orleans to get their take on the issue.
First, she connects with Brad Kooima representing the Iowa Cattlemen’s Association. He shares his insight on that topic as well as a resolution he supported to ensure that cattle are picked up within seven days after a bid is accepted. Kooima talks about work over the past few years to level the playing field for marketing fed cattle.
Second, she connected with Shawn Tiffany, president of the Kansas Livestock Association. Tiffany runs feedlots with his brother, focusing on retained ownership cattle. He discusses how the Cattle Contracts Library Pilot Program is important to collecting information for use in the coming year. With the information, the industry can then evaluate how the added transparency impacts the market.
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