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Cattle Contract Library Act of 2021

Floor Speech

Date: Dec. 8, 2021
Location: Washington, DC

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Mrs. MILLER of Illinois. Mr. Speaker, I rise today in support of H.R. 5609, the Cattle Contract Library Act of 2021.

My fellow farmers, farm families, and members of the House Agriculture Committee know the importance of bringing transparency to the cattle market. Currently, cattlemen are unaware of contract terms being offered by producers, which leads to a decline in leverage for smaller producers during price negotiations.

This bill will require packers to report terms of alternative marketing agreements between packers and producers to the USDA, equipping ranchers with additional market data needed to make informed business decisions.

The USDA library will provide producers with key details on cattle contracts, including the type and duration. Market transparency is a critical component of price discovery in cattle marketing.

Mr. Speaker, I thank the gentleman from South Dakota (Mr. Johnson) for putting forth this important legislation.

Mr. JOHNSON of South Dakota.

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