Ag lawmakers gave a thumbs up to a USDA cattle contract library last week, but not before acknowledging the effort to boost market transparency could be linked to upcoming reauthorization of mandatory price reporting.
There’s no doubt price transparency and discovery allowed by a cattle contract library has broad support from the industry and its representatives in Congress. “The cattle contract library sends a clear message to ranchers, farmers and livestock producers across the country, that their voices are being heard by this committee, here in Washington,” according to Kansas Republican Representative Tracey Mann.
Mann wanted to know from the bill’s author if the library measure could be updated when Livestock Mandatory Reporting must be reauthorized in December or in another year. “Kansans also deserve to know whether, upon reauthorization, we’re able to reexamine the legislation. Rep. Johnson, can you confirm, or would you be willing to confirm that the cattle contract library would need to be reauthorized as part of Livestock Mandatory Reporting.”
Bill sponsor, South Dakota Republican Representative Dusty Johnson; “This contract library is placed within the Agricultural Marketing Act of 1946, and that’s something that Mandatory Price Reporting reauthorization would address. So, you would have an opportunity to go in and change these provisions.”
A key point, since others are also proposing market reforms and may see reauthorization as a legislative vehicle, depending on whether it’s a straight renewal or allows for changes.