Statement by Mark McHargue, President, Regarding Sen. Fischer’s Cattle Market Transparency Act of 2021
LINCOLN, NEB. – “On behalf of Nebraska Farm Bureau and our farm and ranch members, I want to thank Senator Fischer for her dedication and commitment to Nebraska beef producers. Transparency in cattle markets has been and continues to be an issue of great concern to many of our members. Market transparency has been the overarching goal of our policy discussions on this topic for years. We’re excited that Sen. Deb Fischer’s Cattle Market Transparency Act of 2021 offers needed reforms and looks to bring transparency back to the cattle marketplace. We look forward to working with Sen. Fischer on this important legislation to enact change in cattle markets that will lead to positive outcomes for our state’s beef producers.”
Note: Market transparency was a driving factor in the formation of Nebraska Farm Bureau’s Cattle Markets Task Force. The Task Force brought Nebraska beef producers and others across the beef industry together over the course of four months in 2020, to discuss and make recommendations for changes in the beef sector. The Nebraska Farm Bureau Cattle Markets Task Force issued a final report and recommendations in September 2020. The final report is available HERE. Many of the provisions included in the Cattle Market Transparency Act of 2021 are specifically aligned to recommendations from the Task Force, including increasing cash sales in fed cattle markets, support for establishment of a beef contracts library, and reform in confidentiality standards of the federal Livestock Market Reporting Act.
The Nebraska Farm Bureau is a grassroots, state-wide organization dedicated to supporting farm and ranch families and working for the benefit of all Nebraskans through a wide variety of educational, service, and advocacy efforts. More than 58,000 families across Nebraska are Farm Bureau members, working together to achieve rural and urban prosperity as agriculture is a key fuel to Nebraska’s economy. For more information about Nebraska Farm Bureau and agriculture, visit www.nefb.org.
