Iowa Senator Chuck Grassley and Montana Senator Jon Tester have introduced a spot market bill. This would require each U.S. meat processing facility that harvests over 125,000 head of cattle per year to purchase 50 percent of weekly slaughter volume on the open or ‘spot’ market. In a statement, the U.S. Cattlemen’s Association said the lack of cash negotiated sales in recent years has decimated price discovery and undercut the fundamentals of the CME cattle futures contracts. The Livestock Mandatory Reporting program expires September 30, and this spot market bill language is expected to play a role in conversations about program changes. Also showing support for the bill is South Dakota Senator Mike Rounds and Minnesota Senator Tina Smith. Learn more about the legislation in this RRFN interview with USCA Vice President and St. Onge, South Dakota rancher Justin Tupper.