Senators Chuck Grassley of Iowa along with John Tester of Montana are introducing legislation to require more transparent cash cattle markets. The measure mandates 50 percent of the packer’s weekly slaughter must come from negotiated cash trade. Grassley says the bill mirrors closely what he introduced 18 years ago but instead of a 25 percent mandate, it requires 50 percent.

He says his bill is needed because of the present lack of a transparent cash cattle market.

Grassley says independent cattle producers need to have price discovery in the markets in which they trade and his legislation will help ensure that.

Grassley expects there to be more bipartisan support with his legislation as it moves forward.