The leader of the Independent Cattlemen of Nebraska is disappointed with the compromise that led to the Cattle Price Discovery and Transparency Act. That measure contains portions of the Grassley Tester 50-14 bill and Nebraska Senator Deb Fischer’s bill. ICON President Jim Dinklage had supported the Grassley Tester measure which required the packers to purchase 50 percent of their cattle from the spot market within 14 days of slaughter.
He says Senators Fischer and Grassley never should have compromised on this legislation.
Dinklage doesn’t see the packers even following through with what they’re required to report under the Cattle Price Discovery and Transparency Act even if it gets passed.
The North American Meat Institute representing the packers released a statement following the announcement of the bill. NAMI said that bill ignores economic fundamentals and that its mandated government intervention will have unintended consequences that will hurt livestock producers and consumers.
