USCA asks for meetings
(WASHINGTON) – On Thursday, the United States Cattlemen’s Association sent letters to the United States Department of Agriculture (USDA) and the Commodity Futures Trading Commission (CFTC) requesting each department to convene cattle market participants to discuss concerns related to price transparency and true price discovery.
The letters, addressed to Secretary of Agriculture Sonny Perdue and CFTC Chairman Heath P. Tarbert, are in response to the untimely fire at the Tyson Foods’ Holcomb, Kansas beef plant. In the weeks following the event, U.S. cattle producers have witnessed unprecedented disruption in the cattle marketplace.
Two separate Cattle Industry Summits would directly address issues related to the Mandatory Price reporting program, Packers & Stockyards Act violations and definitions, and the cattle futures contracts. USCA looks forward to working with both USDA and CFTC to convene cattle industry stakeholders in the months ahead.