IARN — Sen. Chuck Grassley (R-Iowa) along with his colleagues Sens. Jon Tester (D-Mont.), Tina Smith (D-Minn.), Joni Ernst (R-Iowa), Mike Rounds (R-S.D.), Cindy Hyde-Smith (R-Miss.) and Steve Daines (R-Mont.) today introduced legislation to foster efficient markets while increasing competition and transparency among meatpackers who purchase livestock directly from independent producers. This bill will require that a minimum of 50 percent of a meat packer’s weekly volume of beef slaughter be purchased on the open or spot market.
“The lack of transparency in cattle pricing isn’t a new problem, but the negative effects of the fire in Holcomb, Kansas, and COVID-19 have highlighted the need for additional price transparency measures to ensure producers are getting a fair price for the hard work of raising cattle. Food doesn’t come from the grocery store; it comes from tens of thousands of farmers and independent producers who work day and night to ensure families across the country have an abundant supply of food. Independent producers deserve to be paid what their beef is worth,” Grassley said. Read more