Senate bill requires packers to buy some cattle for cash
Meatpackers would be required to buy a portion of their slaughter cattle on the spot market or risk a $90,000 fine under legislation outlined by four senators on Monday. The bill, intended to increase market transparency, also would create a contract library that discloses the terms the packers offer for cattle, so producers would know if a fair price is being offered.
Fischer and Smith named to Senate Agriculture Committee
With the 2018 farm bill on the horizon, Senate leaders have re-jiggered membership of the Senate Agriculture Committee, adding Republican Deb Fischer of Nebraska and newly appointed Democrat Tina Smith of Minnesota to the panel.