Cattle ranchers need your help for spot market reform!
4 meat packers control almost 80% of the meat market. They use this control of the market to drive down prices and affect prices on the cash markets (known as the spot market). By artificially raising and lowering the demand of cattle, this means that North Dakota producers get paid less for their cattle, while packers make more profits by charging more for meat at the grocery store.
Senators Chuck Grassley and Jon Tester want to include their Spot Market Bill as an amendment to the Livestock Mandatory Price Reporting Reauthorization ...
Cattle ranchers need your help for spot market reform!
4 meat packers control almost 80% of the meat market. They use this control of the market to drive down prices and affect prices on the cash markets (known as the spot market). By artificially raising and lowering the demand of cattle, this means that North Dakota producers get paid less for their cattle, while packers make more profits by charging more for meat at the grocery store.
Senators Chuck Grassley and Jon Tester want to include their Spot Market Bill as an amendment to the Livestock Mandatory Price Reporting Reauthorization Act. This expires December 11th, 2020 and Congress needs to reauthorize it.
The Spot Market Bill proposes that at least 50% of all beef be purchased on the Spot Market preventing speculators from manipulating the prices. The more beef sold on the open market means that commodities traders and meat packers have to buy based on actual demand rather than futures contracts.
WE NEED YOUR HELP. John Hoeven has already voiced support for spot market reform. Lets encourage John Hoeven and Kevin Cramer to act now to add this crucial amendment to help alleviate unfair pricing actions by the packing industry. Tell Hoeven and Cramer to stand up for Ranchers!
Cattle ranchers need your help for spot market reform!
4 meat packers control almost 80% of the meat market. They use this control of the market to drive down prices and affect prices on the cash markets (known as the spot market). By artificially raising and lowering the demand of cattle, this means that North Dakota producers get paid less for their cattle, while packers make more profits by charging more for meat at the grocery store.
Senators Chuck Grassley and Jon Tester want to include their Spot Market Bill as an amendment to the Livestock Mandatory Price Reporting Reauthorization Act. This expires December 11th, 2020 and Congress needs to reauthorize it.
The Spot Market Bill proposes that at least 50% of all beef be purchased on the Spot Market preventing speculators from manipulating the prices. The more beef sold on the open market means that commodities traders and meat packers have to buy based on actual demand rather than futures contracts.
WE NEED YOUR HELP. John Hoeven has already voiced support for spot market reform. Lets encourage John Hoeven and Kevin Cramer to act now to add this crucial amendment to help alleviate unfair pricing actions by the packing industry. Tell Hoeven and Cramer to stand up for Ranchers!