WASHINGTON (May 24, 2016) – Today, National Cattlemen’s Beef Association President Tracy Brunner testified before the House Agriculture Subcommittee on Livestock and Foreign Agriculture. Brunner, a fourth generation rancher and cattle feeder from the Flint Hills area of Kansas, stressed to the subcommittee that over-regulation poses the greatest threat to the profitability of cattle producers.
“Today we ask for no direct action from our government in our cattle marketing systems and forums,” said Brunner. “The cattle industry relies on the transparency of price discovery to send clear signals up and down the beef supply chain. We have recognized the volatility in the cattle futures market and we are working directly with the CME Group to find ways to address it. Our joint NCBA/CME working group is analyzing potential changes to ensure the markets work for producers who are using these tools to manage their market risks. Without futures contract integrity, our industry will abandon the use of these markets as a risk management tool.”
National Cattlemen's Beef Association testimony
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