Iowa cattle producers met with Senator Chuck Grassley this week to look for a solution to the broken cattle market. Iowa Cattlemen’s Association President-elect Bob Nobel says the Senator is reintroducing his 50-14 legislation to increase the amount of negotiated cash cattle packers need to buy on a weekly basis. It is legislation ICA is supporting but may need to be merged with a similar bill offered by Nebraska Senator Deb Fischer.

He says Fischer’s bill also includes a formula contract library to increase market transparency which they endorse. So, Nobel says Grassley is going to be working on a compromise and to get a hearing.

Grassley was also asked about the government breaking up the packer monopoly, but Nobel thinks the solution lies in adding shackle space.

Many cattle producers say the packers are making near record profits by intentionally slowing chain speeds to push up boxed beef values and refusing to pay more for cash cattle. They say this hurts producers and consumers.