Rep. Dusty Johnson (R-SD) introduced the Price Reform in Cattle Economics Act earlier this week and the news was welcomed by the National Cattlemen’s Beef Association.
“The Tyson fire in Holcomb, KS and the supply chain disruptions caused by the COVID-19 pandemic have brought the issues of price transparency in the cattle markets and beef processing capacity to a boiling point within our industry,” said Ethan Lane, NCBA’s Vice President of Government Affairs.
The NCBA says the legislation will improve several important areas for cattle producers, including new provisions to aid producer-own processing facilities and increase transparency in fed cattle transactions. The bill also includes existing proposals to open new markets for state-inspected beef.
The bill is bipartisan and cosponsored by Republicans Mike Conaway, GT Thompson, Roger Marshall, Frank Lucas, Greg Gianforte, David Rouzer, Rick Crawford, Jason Smith Tom Emmer and Jim Hagedorn in addition to Democrats Darren Soto and Henry Cuellar.
“This legislation is a significant step in the right direction as we continue to explore ways to support producers who have been impacted by two major black swan events, in an already volatile cattle market,” Lane said. “We are grateful to Rep. Johnson and all the cosponsors for their bipartisan leadership in this space, and will continue working alongside them to see these reforms enacted.”