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Transparency, fairness key to cattle market success, say Iowa ag leaders

Following Wednesday’s release of the Boxed Beef & Fed Cattle Price Spread Investigation Report by the USDA, Iowa Secretary of Agriculture Mike Naig and Iowa Cattlemen’s Association president Dick Godfrey released public statements.

“The USDA report highlights the need for increased price discovery and transparency in the cattle marketplace. Transparency and fairness are essential to a healthy and competitive market. I will continue to work with Iowa Cattlemen’s Association and our congressional delegation to ensure that these recommendations are given fair consideration during the reauthorization of the Livestock Mandatory Price Reporting act,” says Naig.

“The Iowa Cattlemen’s Association remains steadfast in our decision to request a legislative or regulatory fix to address how cattle are purchased regionally and at the plant level. Meatpacking entities must participate in the negotiated cash market to provide robust price discovery and competition for the beef cattle industry. Furthermore, the information provided in USDA’s report affirms our request for a Senate Agriculture Committee hearing in advance of Livestock Mandatory Reporting reauthorization in September 2020,” says Godfrey.

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