Hoeven, NCBA praise final USDA cattle contract library rule
|The Agriculture Department on Tuesday issued a final rule implementing a cattle contract library pilot program to improve transparency and competition in cattle markets.|
Sen. John Hoeven, R-N.D., ranking member on the Senate Agriculture Appropriations Subcommittee, noted in a news release:
▪ That the library requires any meatpacker with more than 5% of the annual national cattle supply to report to Agricultural Marketing Service information on the purchase of fed cattle at the end of each calendar month.
▪ That details collected by AMS including cattle amount, purchase price and contract timeframe, among other information, will be aggregated and released publicly.
▪ That personally identifiable and confidential business information will not be included in the reports.
|Sen. John Hoeven, R-N.D.|
“This cattle contract library that we worked to secure at AMS will serve as an important resource to America’s livestock producers, giving them more of the information they need to get the best price and terms for the sale of their cattle,” said Hoeven. “At the same time, we continue working to strengthen enforcement of our laws, while opening new opportunities for producers to sell their products. That means more competition in cattle markets, which ultimately benefits both ranchers and consumers.
”National Cattlemen’s Beef Association (NCBA) Senior Director of Government Affairs Tanner Beymer said, “We are pleased that USDA listened to feedback from stakeholders like NCBA while crafting the final rule on the Cattle Contract Library Pilot Program. We are hopeful that this pilot program will strike an appropriate balance between offering cattle producers additional insight into the market while also protecting their proprietary business information.”