USCA Hosts Horn Wrap Call to Discuss Cattle Contract Library

(OCTOBER 29, 2021) – Earlier this year, on May 10, 2021, member leaders of American Farm Bureau Federation, National Cattlemen’s Beef Association, National Farmers Union, R-CALF USA, and the United States Cattlemen’s Association met in Phoenix, Arizona.

These groups convened at the request of the Livestock Marketing Association to discuss challenges involved in the marketing of finished cattle with the ultimate goal of bringing about a more financially sustainable situation for cattle feeders and cow-calf producers.

The groups identified three action items to pursue through legislation and regulatory action. Those were:

  • Expedite the renewal of USDA’s Livestock Mandatory Reporting (LMR), including formula base prices subject to the same reporting requirements as negotiated cash and the creation of a contract library.
  • Demand the Department of Justice (DOJ) issue a public investigation status report and as warranted, conduct joint DOJ and USDA oversight of packer activity moving forward.
  • Encourage investment in, and development of, new independent, local, and regional packers.

The House Agriculture Committee recently passed the Cattle Contract Library Act of 2021 (H.R. 5609), which would create a library for cattle contracts within USDA’s Agricultural Marketing Service.

The bill would require packers to report terms of alternative marketing agreements between packers and producers, equipping ranchers with additional market data needed to make informed marketing and business decisions. The USDA library would provide producers with key details on cattle contracts, including the type and duration.

On Tuesday, November 9 at 7:00am Mountain, we’ll discuss the bill, the creation and implementation of a Cattle Contract Library, the reauthorization of Livestock Mandatory Reporting, and other items of interest as Congress looks to move major priority items in the last quarter of 2021.

USCA Monthly Horn Wrap Call
Tuesday, November 9, 2021
6am PST | 7am MST | 8am CST | 9am EST
Dial: 866-254-5984, no passcode needed.
Send me a text reminder for the call.