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PRICE Act would make changes to cattle markets

PRICE Act would make changes to cattle markets

South Dakota Representative Dusty Johnson introduced the Price Reform in Cattle Economics Act. The House Ag Committee member says the bill would increase transparency in the cattle market, as well as improve risk management for producers and support new and existing meat processors.

The Hagstrom Report says he wrote the bill as a response to recent extreme cases of market volatility after the Tyson Plant fire in Holcomb, Kansas, in 2019, as well as during COVID-19. Johnson says cattle country is hurting and hasn’t fully recovered from the recent challenges. “USDA has laid out multiple areas where Congress could implement real solutions to improve the market,” he says. “The PRICE Act is the answer to many of the years-long challenges producers have battled.”

He says cattle producers want a fair market and fair prices. “Congress needs to step up for cattle country,” Johnson adds, “which is what the bill will do.” The PRICE Act is supported by groups like the American Farm Bureau Federation, South Dakota Cattlemen’s Association, and the National Cattlemen’s Beef Association.

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