USDA’s Beef Pricing Report Just The First Step
July 31, 2020 5:55AM CDT
The much-anticipated USDA report on boxed beef and fed cattle price spread investigation is just the first step in a series of multiple reports on the controversial market manipulation concerns. That’s according to former House Ag Chairman Frank Lucas, a Republican Congressman from Oklahoma.
The USDA report issued last week provided recommendations to improve market fairness. Lucas says it’s time to look into doing so.
Lucas says that while the bill won’t address current issues, it will prevent future problems in the beef supply chain. Another bill filed by Lucas, the Livestock Risk Management and Education Act, seeks to help producers better understand the futures market and how to use it to manage market risks.