The U.S. Cattlemen’s Association has sent letters to the USDA and Commodity Futures Trading Commission asking for a stakeholders summit to look at transparency and price discovery in the cattle markets. This follows, the USDA announcing an investigation of skyrocketing beef packer margins following the fire at a Kansas Tyson packing plant. U.S. Cattlemen’s Association President Kenny Graner says there needs to be a deep probe into the pricing issue.
He says while they appreciate the USDA investigating the problem, more needs to be done.
Graner says true price discovery is needed in the cattle markets and better transparency. He says a possible solution is the reauthorization of mandatory livestock reporting program.
Graner says USCA wants to work with the USDA to address market concerns going forward.
