A bipartisan group of Senators released an updated version of the Cattle Price Discovery Act. The updated version of the bill has technical changes to make it easier for the USDA to implement the bill. The bill includes pricing mechanisms and establishes a maximum penalty for covered packers. Iowa Senator Chuck Grassley sponsors the bill. “Most everything in the original bill covered things west of the Mississippi River. It seemed to be fair to open this up to all cattle producers.” Grassley thinks Senate Agriculture Committee Chairwoman Debbie Stabenow really wants to move this bill along, but no hearing or markup has been scheduled in the Senate Ag Committee.
