The House has passed two pieces of legislation critical to improving price transparency in the cattle markets.
But, Tanner Beemer, director of government affairs and market regulatory policy, with the National Cattlemen’s Beef Association says the path forward for the one-year reauthorization of Livestock Mandatory Reporting and the Cattle Contract Library bill will likely have to wait until Congress returns in January. “Once they get back to town in January, they’ve got quite a bit to do,” he says. “They have to raise the debt ceiling, they have to complete an omnibus appropriations package, and I think that a lot of these proposals such as LMR and perhaps the Contract Library Bill will be discussed as part of those bigger legislative vehicles that are expected to move in the early part of 2022.”
Beemer says LMR is the most important tool cattle producers have for price discovery.
