NCBA approves several Neb. Cattlemen policies
July 20, 2016
LINCOLN, Neb. (July 20, 2016) – Nebraska Cattlemen is pleased to announce that numerous NC policy measures passed with overwhelming consent at last week's NCBA mid-year meeting in Denver, Colorado.
Three marketing-focused resolutions that were developed during June's NC midyear meeting in Broken Bow, Nebraska were passed in NCBA's Live Cattle Marketing and International Trade Committee meeting. NC's resolution regarding price discovery in the fed cattle market was amended minimally and passed in a form concluding "NCBA (will) pursue initiatives that encourage an increase in negotiated cash trade in all major cattle feeding regions." NC's CME Live Cattle and Feeder Cattle Futures resolution was adopted with no modifications at the NCBA level, concluding "NCBA supports initiatives between cattle producers, the CME, and other market participants to increase transparency, level access to information and transactions, and foster an environment that builds confidence in the ability of the hedging community to effectively manage forward price risk using futures and options on Live Cattle and Feeder Cattle contracts." Also adopted at the NCBA level with no changes was NC's CME Live Cattle Contract Specs & Delivery Points resolution, stating in summary that "NCBA supports CME Live Cattle contract specifications that equally incentivize both short and long participation in the marketplace and the existence of numerous well designed and efficient physical delivery points to which cattle may be delivered."
In addition, a product of the work of NC's Banking and Financial Task Force and conversations with several other state affiliates, NC's resolution dealing with electronic funds transfer (EFT) and lien release regulations passed in an amended form concluding "NCBA will work with other state and national commodity organizations as well as regulatory agencies and financial institutions in an effort to clarify and standardize regulations governing transfer of title and release of liens when transactions are completed using electronic funds transfer."
Policy developed by The Nebraska Cattlemen Education committee regarding the funding of the National Beef Cattle Evaluation Consortium( NBCEC) was also forwarded to NCBA. This resolution asks for the Agriculture Research Service to make a permanent commitment to funding for this very important organization. The NBCEC has historically provided expertise in the area of Expected Progeny Differences (EPD's), and more recently has been integral in the development of enhanced EPDs, which include genomic evaluation as well. These tools are valuable for seedstock producers and commercial cattlemen alike. The NC policy was approved with only slight wording changes.