The Cattle Price Discovery and Transparency Act works to return fairness to the cattle marketplace, which is currently dominated by four major meat packers.
WASHINGTON – A bipartisan measure U.S. Senator Joni Ernst (R-Iowa) is backing to return fairness to the cattle marketplace – currently dominated by four major meat packers – cleared the Senate Agriculture Committee today, bringing the effort to improve market transparency one step closer to becoming law. Ernst and a bipartisan group of her colleagues, led by Senator Chuck Grassley (R-Iowa), introduced the legislation in November.
Click here or on the image above for Ernst’s remarks following the committee passage of the bill today.
“For too long, Iowa’s independent cattle producers have faced challenges in the negotiated cash market – dominated by the four major meat packers – and unfairly shouldered the weight of price discovery for cattle producers in other states and regions,” said Senator Ernst. “I’m proud to support Senator Grassley on this bill that takes major steps towards creating a more transparent market to allow our independent, hardworking cattle producers in Iowa and across the country to get the best and most competitive prices for the high-quality cattle they raise.”
The Cattle Price Discovery and Transparency Act will:
The Senate Agriculture Committee also passed the Meat and Poultry Special Investigator Act, a bill to address anticompetitive behavior within the livestock and poultry industry, out of committee today.