A group of over a dozen agriculture groups including the U.S. Cattlemen’s Association and National Farmers Union have sent a letter to the Senate Agriculture Committee requesting a hearing on livestock mandatory price reporting authorization. USCA President Brooke Miller says the current mandatory livestock reporting system is broken and that’s resulted in a non competitive cattle market.

The groups not only want a hearing for Mandatory Livestock Price Reporting but also want Congress to require a minimum of 50 percent of each packer processing plant’s weekly volume of beef slaughter to come as purchases on the spot or open market.

Miller says it’s imperative the hearing be held as mandatory price reporting needs to be reauthorized every five years and that the 50/14 rule needs to be a part of that regulation.

Miller notes that since April 23, a total of over 4400 producers have signed onto support for including the 50/14 component into the livestock mandatory price reporting rule.

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