Yesterday, USDA released the regulation for the Cattle Contract Library pilot program, a provision that was included in the 2022 appropriations bill which Congress passed in March. That legislation directed USDA to create a cattle contract library similar to the swine contract library established in 2003. Under the library, USDA will collect and report contract terms - not entire contracts. The contract provisions to be collected, and therefore submitted by packers, include:
Whether the contract is written or oral Start and end dates Base price source (livestock reporting prices, negotiated price, futures, beef cutout, etc.) Selling basis (live, carcass) Delivery terms Premiums and discounts Carcass and cattle at...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
