News

Members support an industry approach to increasing negotiated trade

Members of the National Cattlemen’s Beef Association voted in favor of supporting market-based price discovery and to oppose any mandate on cash trade volumes.

Jim Fryer of Montana, chairs the Live Cattle Market Working Group, says this has been an ongoing discussion for some time.  “We’ve made evolution and progress trying to understand what it means to help influence negotiated trade,” he says.  “Today, I think, was a lot of that discussion coming together within the industry, to come together with an industry-driven approach to solve that.”

AUDIO: Jim Fryer, Montana

Matt Deppe, executive director of Iowa Cattlemen’s says while their proposed resolution to have a mandate on negotiated cash trade didn’t pass, there is a consensus among the membership that robust price discovery is needed.  “We were heard,” he says. “And now we focus forward.  We still have stuff to do when we get home related to that specific part of that live cattle marketing.”  Deppe says as they communicate on their own, with other states, and with NCBA they want to push really hard on Mandatory Livestock Reporting.  “We need to get more data out,” he says.  “We need to understand data sooner to all the market participants, than what it is right now.”

AUDIO: Matt Deppe, Iowa Cattlemen

The policy won’t be official until voted on and ratified by the entire membership.  That vote is scheduled for Thursday afternoon.