The U.S. Department of Agriculture (USDA) launched its pilot Cattle Contracts Library Jan. 31 at noon Eastern Time on the Agricultural Marketing Service (AMS) Cattle Contract Library webpage. The Consolidated Appropriations Act of 2022 directed USDA to create a pilot library to increase market transparency for cattle producers. This pilot library will provide new disclosure to the industry and public regarding the key terms, conditions and volumes under which cattle are contracted, shedding light on practices in what is now the largest part of the cattle market. This will empower cattle producers to negotiate better terms, more carefully monitor risks relating to marketing preferences and pricing practices and ultimately take better advantage of market opportunities to produce cattle that the market demands.
“USDA is committed to creating a more level playing field for cattle producers and a more balanced, equitable economy for everyone working in food and agriculture,” Agriculture Secretary Tom Vilsack said. “The Cattle Contracts Library Pilot Program supports this commitment by providing producers with the market information they need to make informed production, marketing, and business decisions.”