The House voted 418-9 to advance legislation that would extend the authorization for Livestock Mandatory Reporting through September 30th, 2022. House Agriculture Chairman David Scott said that does not preclude market reforms to help independent producers. Scott stressed the importance of extending market transparency and price discovery for the rest of the fiscal year, past a temporary extension that ends in mid-February, and even as the Senate considers market reforms.

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“We should not let negotiations of those reforms that we’re working with stand in the way of extending this vital program for one-year.” 

Especially, Scott noted, when cattle markets have started to recover and prices to producers have increased.

"This one-year extension will help to settle the concerns in the livestock markets and provide certainty to our livestock industry.” 

In addition, by a 411-13 vote, the House also passed the Cattle Contract Library Act, a bill directing the Ag Marketing Service to create a fed cattle contract library to also boost price transparency.

Groups like the National Cattlemen’s Beef Association are pleased the House of Representatives passed two bills that provide producers with greater transparency in the cattle markets.

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