Senators introduce bipartisan bill to increase transparency in cattle market

Press release

WASHINGTON — Sens. Chuck Grassley, R-Iowa, and Jon Tester, D-Mont., along with their colleagues Sens. Steve Daines, R-Mont., Joni Ernst, R-Iowa, John Hoeven, R-N.D., Tina Smith, D-Minn., Mike Rounds, R-S.D., Ron Wyden, D-Ore., and Cory Booker, D-N.J., have introduced legislation to foster efficient markets while increasing competition and transparency among meat packers who purchase livestock directly from independent producers.

This bipartisan bill will require that a minimum of 50 percent of a meat packer’s weekly volume of beef slaughter be purchased on the open or spot market.

“Montana livestock producers have made it clear: there needs to be more transparency in the cattle market to ensure ranchers get a fair shake, especially as market consolidation continues to rise,” Tester said. “This bill is about putting Montana family ranchers first, instead of tying their bottom lines to the whims of multi-national corporations.”

“The lack of transparency in cattle pricing isn’t a new problem. Unfortunately, the COVID-19 pandemic has only highlighted the need for additional price transparency measures to ensure producers are getting a fair price for the hard work of raising cattle,” Grassley said. “Food doesn’t come from the grocery store, it comes from tens of thousands of farmers and independent producers who work day and night to ensure families across the country have an abundant supply of food. Independent producers deserve to be paid what their beef is worth.”

  Editor’s note: Look for more on this issue in April’s Farm and Ranch special section.