Iowa Cattlemen’s Association leaders are in Denver this week for NCBA’s summer business meeting.
During this meeting NCBA’s policy committees will meet to review policies and discuss industry issues.
Justine Stevenson is Director of Government Relations for the Iowa Cattlemen’s Association.
Stevenson says ICA leaders will bring up two major issues at the NCBA meeting.
“One focuses on increasing price discovery for fed-cattle prices and the other focuses on our priorities for the CME live cattle contracts.”
She says the beef industry is very unique in the U.S. A large number of cattle fed and owned in this country are privately owned by individual producers.
“There’s not a lot of vertical integration in our market. Price discovery is the process of finding a price for your fed cattle. Working with those cattle buyers from various packing plants and trying to see who can give you the best bid when they go to market.”
Stevenson says they want to see more discussion of live prices.
“We really want to focus on and what our policy is suggesting, members of the NCBA and ICA market 50 percent more of their cattle on cash trade for the benefit of themselves as well as the beef industry.”
Tomorrow the NCBA will hold their Board of Directors meeting. Five ICA members will vote as delegates.