Transparency tools launched for cattle market
By Farms.com
The U.S. Department of Agriculture (USDA) is taking a stand for fairer poultry markets and increased transparency in the cattle market. These actions support the President's agenda of promoting a more competitive and transparent agricultural sector.
A proposed rule named "Poultry Grower Payment Systems and Capital Improvement Systems" targets issues surrounding grower ranking systems and capital investment demands placed on poultry growers by companies. The rule aims to prevent deductions from base prices and ensure fairness in performance-based comparisons.
USDA prioritizes protecting producers from unfair treatment and fostering a level playing field. This proposed rule empowers poultry growers with greater control over their contracts and safeguards their financial well-being.
In a separate initiative, USDA is launching the Livestock Mandatory Reporting (LMR) Live Cattle Data Dashboard to enhance cattle market transparency. This user-friendly tool allows easy access to LMR live cattle market information.
Additionally, USDA will publish data on premiums and discounts paid to cattle producers, along with detailed quality grade price distribution information.
These actions, combined with previous efforts, fulfill President Biden's Executive Order on Promoting Competition in the American Economy.
By creating a fairer marketplace, USDA aims to benefit both producers and consumers by lowering grocery prices and strengthening the agricultural sector as a whole.