Iowa Senator Chuck Grassley on Wednesday responded to the National Cattlemen?s Beef Association?s opposition to his ?50/14? cattle market transparency legislation.
Grassley?s recently re-introduced bill would foster efficient markets while increasing competition and transparency among meat packers who purchase livestock directly from independent producers. The 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.
Last week, NCBA released a statement saying Grassley?s bill ?misses the mark? and that any legislative solution to increased price discovery ?must account for the unique dynamics within each geographic region.? Grassley?s bill followed the Cattle Market Transparency Act of 2021 that was also introduced in March by Senator Deb Fischer of Nebraska. Grassley was asked about the NCBA?s comments in his weekly press call with farm reporters Wednesday morning.
Grassley adds his bill includes some key differences from Senator Fischer?s legislation.
The Iowa Cattlemen?s Association announced it supports Grassley?s bill over Senator Fischer?s proposal.
