​Grassley Supports Plan on Cattle Contract Pricing

US Senator Chuck Grassley and three other senators say they have developed a compromise plan that gives independent cattle producers more clues about what meatpackers are paying for cattle raised under private contracts. The Iowa Republican says he’s heard directly from producers who feel they aren’t getting a fair price for their cattle while the big four meatpackers rake in the profits. The legislation would create a sort of library of sale contracts and require meatpackers to disclose how many cattle they plan to buy for slaughter in each of the next 14 days. Grassley says the aim now is to tack this proposal onto an already existing livestock-related law that Congress has to vote to reauthorize in December.