The cattle industry has been seeking ways to increase competition and transparency in the marketplace. Livestock Marketing Association Government and Industry Affairs Director Pierce Bennett says that includes Iowa Senator Chuck Grassley’s bill that would require 50 percent of a packer’s weekly volume to be purchased on the open market and a 14-day delivery window for the cattle. LMA is also looking at “ideas around contract libraries and providing more opportunities for folks to understand what is type of contracts are being used, what roles AMAs (Alternative Marketing Agreements) play and what are opportunities for producers to have more transparency when marketing their cattle.”
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