A new report unveiled by the American Farm Bureau Federation provides an in-depth examination of the causes and price implications resulting from extreme market volatility in the cattle industry. It also sets the stage to explore policy solutions.
The Cattle Market Working Group, comprised of ten state Farm Bureau presidents, spent more than two months investigating factors that led to market disruptions following the Holcomb packing plant fire and the COVID-19 pandemic.
Farm Bureau President Zippy Duvall says of the report, “We must work toward a more stable, resilient food supply chain that can better endure unforeseen challenges.” The report is designed to equip state and county Farm Bureau organizations with deep insight and policy considerations as Farm Bureau leaders debate policy recommendations for 2021.
Key topics of the report include mandatory minimum negotiated trade, risk management and education, small capacity meatpacking, and strengthening the Grain Inspection, Packers and Stockyards Administration’s ability to enforce market rules.
