PRICE Act Would Make Changes to Cattle Markets, Johnson Says

Late last week, South Dakota Representative Dusty Johnson introduced the Price Reform in Cattle Economics Act. Johnson, a House Ag Committee member, said the bill would increase transparency in the cattle market, as well as improve risk management for producers and support new and existing meat processors. Johnson said the PRICE Act is a response to recent extreme cases of market volatility over the last year-plus, after the Tyson Plant fire in Holcomb, Kansas, in 2019, as well as during COVID-19.

Johnson added cattle country is hurting and hasn’t fully recovered from the recent challenges. “USDA has laid out multiple areas where Congress could implement real solutions to improve the market,” he said. “The PRICE Act is the answer to many of the years-long challenges producers have battled.”

He continued cattle producers want a fair market and fair prices. “Congress needs to step up for cattle country,” Johnson added, “which is what the bill will do.”

The PRICE Act has been co-sponsored by several members of the House Ag Committee. It’s also supported by groups like the American Farm Bureau Federation, South Dakota Cattlemen’s Association, and the National Cattlemen’s Beef Association.

“Cattle country is hurting and has not fully recovered,” said Johnson. “USDA laid out several areas where Congress can implement real solutions to improve the market – the PRICE Act is the answer to many of the issues our ranchers have faced for years. Our producers want a fair market and fair prices and that’s what this bill delivers. Congress needs to deliver for cattle country.”

“Our nation’s cattle producers are facing unprecedented market challenges due to supply chain disruptions created by the COVID-19 pandemic as well as last year’s fire at the Holcomb, KS beef plant,” said Agriculture Committee Ranking Member Mike Conaway. “I am proud to join my colleagues in introducing the PRICE Act, which offers a suite of consensus proposals that will improve the marketplace.”

“Ranching and beef production have been fundamental to Florida’s heritage and economy for hundreds of years,” said Congressman Darren Soto. “Unfortunately, the COVID-19 pandemic has hit cattle country with one of the toughest challenges it will ever face. The bipartisan PRICE Act offers a solution to create cooperative opportunities for smaller processors bearing the brunt of supply disruption. Let’s help Florida’s cattle ranchers get the necessary help to make it through this crisis and continue to be an integral part of beef production across the country.”

Click Here to learn more about the PRICE Act.

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