Washington - The National Cattlemen's Beef Association said it could not take a position on the practice of bartering livestock sales based on an understanding that the price is not reported to the public.
The NCBA in comments to the U.S. Agriculture Department said it does not have an official policy on the price “non-reporting” issue. The USDA in September asked the public for comments to determine if the practice should be prohibited.
“While our current policy clearly supports an open and transparent price discovery process, our members are also cautious about increased government intervention in the marketplace,” Paul Hitch, chairman of the NCBA's Live Cattle Marketing committee, said.
The cattlemen said they recommended that the USDA go ahead and create rules and leave the comment period open until February 15 so that the group could establish its official policy at its Live Cattle Marketing committee meeting during the NCBA's annual convention next year.
The USDA said in September it had received information that some livestock transactions are being conducted on the condition that the sale price not be reported to USDA and to public or private reporting services. USDA said the practice was resulting in “inaccurate and incomplete” price information.
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