Iowa Cattlemen’s Association members’ express concerns of price discovery with national association in Nashville.
The National Cattlemen’s Beef Association had their annual meeting late last week.
Ed Greiman, is a member of Iowa Cattlemen’s Association. He attended the cattle marketing committee.
“One of the biggest issue we have is price discovery in the fed cattle market. Iowa [cattle producers] are very passionate about this. Iowa trades about 50 percent of their volume weekly in what we would call the cash negotiated market. The rest of the cattle would either be formula or some other agreement. We would like to see other states increase their cash volume,” Greiman says.
Greiman says he hopes neighbor states will continue to cash trade.
He says another issue they focused on was CME Group contracts.
“We brought some different ideas in terms of how we would like to the fed cattle contracts settled, contract speculations, and so we have all agreed to continue to meet with the other states to work on what we can do with the contracts and focus on things we all agree on.”
Greiman says he meets a lot of people from across the nation at convention but says they leave with a unified voice about issues they care about.