The American Farm Bureau Federation announced its support of the Cattle Price Discovery and Transparency Act of 2021, with the exception of the bill's establishment of mandatory minimums for negotiated purchases.
AFBF delegates voted last week in Atlanta to revise 2022 Farm Bureau policy. While Farm Bureau supports robust negotiated sales, delegates voted to oppose government mandates that force livestock processing facilities to purchase a set percentage of their live animal supply via cash bids.
"AFBF appreciates the hard work that has been done on both sides of the issue to address the pressing needs facing America's cattle industry," says AFBF President Zippy Duvall. "The Cattle Price Discovery and Transparency Act takes positive steps toward ensuring fairness for America's farmers and ranchers as they work to feed this country's families.
"We support the majority of this legislation, but we cannot support mandatory cash sales. We are committed to working with the sponsors of the bill to make revisions to ensure it aligns with the priorities outlined by our membership."
The Cattle Price Discovery and Transparency Act is sponsored by Sen. Deb Fischer (R-Neb.) and Sen. Chuck Grassley (R-Iowa), and co-sponsored by 14 other senators from both sides of the aisle. The legislation would also equip farmers with more information by establishing a cattle contract library, updating mandatory price reporting and increasing fines for companies that violate the Packers and Stockyards Act.
Source: American Farm Bureau Federation, which is solely responsible for the information provided, and wholly owns the information. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset. The opinions of this writer are not necessarily those of Farm Progress/Informa.