The Iowa Cattlemen’s Association is backing the investigation called for by NCBA into the cash cattle markets. They’re also asking for government assistance in the near term to help with producers who’ve been losing money. ICA’s Director of Government Relations Cora Fox says they want their share of the funding approved for agriculture in the CARES legislation.
She says they also want a short term fix to the low prices producers have been getting from the market. Fox says there needs to be more negotiated cash trade.
Fox says another market problem that needs fixing is the difference between what cattle producers in the north are getting versus what cattle producers in the south are getting. She says the formula trading that’s happening in the south hurts price discovery so that needs to be corrected.
Fox is glad the USDA is taking an in depth investigation into the markets on top of their original investigation following the Tyson Holcomb plant fire.
