Senate Ag Committee Hearing on Cattle Price Discovery and Transparency Act

The Cattle Price Discovery and Transparency Act that will be the subject of Tuesday's Senate Ag hearing has broad support on the 22-member panel, with nine Democrats and eight Republicans as co-sponsors. A pair of GOP committee members - Deb Fischer of Nebraska and Chuck Grassley of Iowa - are among the four lead sponsors of the measure.

But the committee's top Republican, John Boozman, R-Ark., is skeptical of the bill, and its fate on the Senate floor isn't certain yet. The bill would need at least ten Republican votes to pass the full Senate, assuming all 50 Democrats support it.

“I’ve got confidence we’ve got bipartisan votes to get it out and get it through the Senate,” Grassley said. He said Stabenow has assured him Senate Majority Leader Chuck Schumer will put the bill on the floor.

According to economists, the bill would largely affect cattle marketing on the southern Plains, and Texas and Oklahoma aren't represented on the committee.

If the measure passes the Senate, the bill would head to the House for approval. The House Ag Committee is holding its own hearing on the cattle markets this week, where the CEOs of the “big four” meatpacking companies will testify.

Source: Agri-Pulse