After failing to get legislation passed last session, a bipartisan group of senators reintroduced a bill they say will improve transparency and accountability in the cattle market.
The Cattle Price Discovery and Transparency Act would require USDA to establish five to seven regions across the country that reasonably reflect similar fed cattle purchases. It would also require USDA to establish minimum purchase levels through approved pricing mechanisms that packers controlling 5% or more of fed cattle slaughter would be required to make.
Each region’s mandatory minimum would be set at…
