NCBA passes policy to increase cash trade levels
Members of the National Cattleman’s Beef Association have taken their first major policy step to increase cash trade levels.
Matt Deppe, CEO of the Iowa Cattlemen’s Association, says through the NCBA’s grassroots process, the members and the organization’s Board of Directors unanimously passed policy that supports voluntary efforts to improve cash fed cattle trade. “Those triggers would include a regular approach on what those levels of price discovery are per region,” he says. “In terms of negotiated grid type purchases or sales or negotiated cash as well as what levels consistently.”
He tells Brownfield it wasn’t exactly what they wanted, but it puts a tangible plan in place. “In the end, we came to a compromise that at least gives us a path forward,” he says. “That does establish that we are willing, as a cash industry, to go legislative and regulatory given some factors implied.”
Deppe says the working group has until October 1 to determine the triggers.
If the voluntary approach doesn’t achieve robust price discovery and meet the established triggers that increase frequent and transparent trade to a regionally sufficient level, NCBA will pursue a legislative or regulatory solution.
AUDIO: Matt Deppee, CEO Iowa Cattlemen’s Association