By Scout Nelson
The U.S. Department of Agriculture (USDA) has released a detailed assessment report on the Cattle Contracts Library Pilot Program (CCL). This report, prepared by Kansas State University, is now available on the AMS’ Cattle Contracts Library Pilot Program webpage.
It outlines the potential impacts of the CCL on the fed cattle market and suggests recommendations to further improve transparency in cattle trading.
The Consolidated Appropriations Act of 2022 mandated the USDA's Agricultural Marketing Service (AMS) to establish the CCL to provide cattle producers with clearer market insights.
This initiative aims to delineate common terms in contracts, highlight their key differences, and share relevant transaction volumes to give context to these terms. Following its launch in early 2023, the library has been accessible to the public since January 31.
The assessment report evaluates how these efforts have contributed to market transparency and what adjustments might enhance the program's effectiveness. The USDA is currently reviewing these findings and recommendations to determine the next steps.
This evaluation marks a significant step towards ensuring fair practices and enhancing understanding in the cattle market, reflecting the USDA’s ongoing commitment to support agricultural stakeholders.
Photo Credit -usda
Categories: Kansas, Business, Livestock