The National Cattlemen’s Beef Association is lauding the study put forth by Texas A & M University on the U.S. cattle and beef markets. It said intervention and mandates will cost livestock producers billions of dollars and that supply and demand has the most influence on cattle prices. NCBA Vice President of Government Affairs Ethan Lane says the study is on target and the 50-`14 bill introduced in the Senate to force packers to purchase 50 percent of their cattle from the spot market within 14 days will lead to more costs for cattle producers.
He says transparency and price discovery are critical in trying to find a solution to the cattle market price dilemma.
Lane says any legislation calling for harsh mandates will just lead to unintended costs and consequences for all cattle producer.
The study was shared along with Senator Grassley’s legislation at the livestock industry cattle market price hearing before the House Agriculture Committee on Thursday.
