Chuck Grassley: “Senator Feingold and I have in the past sponsored the Transparency for Independent Livestock Producers Act, or what we…”

“Senator Feingold and I have in the past sponsored the Transparency for Independent Livestock Producers Act, or what we have generally referred to as the ``Transparency Act.'' Today we are once again working together in a bipartisan fashion to reintroduce this important legislation. My sponsorship of the packer ban this Congress is based on the belief that independent producers should have the opportunity to receive a fair price for their livestock. Over the years we have seen widespread consolidation and concentration in the packing industry. Add on the trend toward vertical integration among packers and there is no question why independent producers are losing the opportunity to market their own livestock during profitable cycles in the live meat markets. This bipartisan legislation would guarantee that independent producers have a share in the marketplace while assisting the Mandatory Price Reporting system. The proposal would require that 25 percent of a packer's daily kill comes from the spot market.”