WASHINGTON – The American Farm Bureau Federation (AFBF) recently shared its support for the Cattle Price Discovery and Transparency Act of 2021, but made an exception for mandatory minimums of negotiated purchases.
The Farm Bureau stated in a recent vote with its delegates that it supports robust negotiated sales but opposed government mandates that force livestock processing facilities to purchase a set percentage of their live animal supply via cash bids.
"AFBF appreciates the hard work that has been done on both sides of the issue to address the pressing needs facing America's cattle industry," said Zippy Duvall, president of AFBF. "The Cattle Price Discovery and Transparency Act takes positive steps toward ensuring fairness for America's farmers and ranchers as they work to feed this country's families."
In October 2021, a bipartisan bill was agreed to by US Senators Deb Fischer (R-Neb.), Chuck Grassley (R-Iowa), Jon Tester (D-Mont.) and Ron Wyden (D-Ore.). The legislation would also establish a cattle contract library, update mandatory price reporting and increase fines for companies that violate Packers and Stockyards Act.
"We support the majority of this legislation, but we cannot support mandatory cash sales," Duvall added. "We are committed to working with the sponsors of the bill to make revisions to ensure it aligns with the priorities outlined by our membership."