USDA recently released the pilot for a Cattle Market program for producers. Taylor Cox, with USDA’s Agricultural Marketing Service, says the Pilot program provides in-depth information on what cattle are selling for and how those prices are determined. This is called the Cattle Contract Library and it is meant to fill the gap between the Base Price data and the Net Price data.
The new library has information on at least 100 contracts. Some of the information that was not readily available in the past, including premiums for prime grade or volume. Cox says the number of contracts and the amount of detail is expected to grow.
This is a Pilot program to determine if this is useful for the producers and it will expire in September. After that lawmakers will decide if it becomes permanent.
To view the library, search online “USDA Cattle Contract Library.”