Greater Cattle Price Transparency: New Rules for Meat Processors.
The Act introduces new rules aimed at increasing fairness and transparency in the cattle market, directly supporting producers. A key change is the creation of a public library of contracts between producers and large processors, intended to aid producers in price negotiations. Additionally, large processing plants must purchase a mandatory minimum percentage of cattle through open negotiations to improve market price discovery mechanisms.
Key points
Mandatory creation of a public database (library) detailing cattle purchase contracts between producers and large processors, increasing access to market information.
Introduction of mandatory minimum limits for large processors to purchase cattle through open negotiations to ensure fair and competitive price setting.
Requirement for faster and more detailed reporting of market data, including carcass weights and slaughter schedules (14-day reporting), increasing transparency for all market participants.
Imposition of significant civil penalties for processors who fail to meet the mandatory minimum negotiated purchase requirements.
Expired
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