Bob Kerrey: “While it is true that the packers and many of the processing industry do not like the idea of having to disclose prices…”

“While it is true that the packers and many of the processing industry do not like the idea of having to disclose prices and bidding, you would be hard-pressed to find a single rancher or cattle feeder in the United States of America who opposes this amendment. This is a pilot program. It will make the market work better. There are only three packers in America controlling approximately 80 percent of the market today. That is why this amendment is needed. I say to colleagues who want the free market to work and like the marketplace, go talk to your feeders. Go talk to the people who are out there ranching right now. They want to know what the prices are in order to get full price discovery so that they are able to know whether or not they are getting the best price for their product. It is true that the packing industry and many processors do not like this requirement. But, as I said, again you would be hard-pressed to find a single feed lot operator or rancher in America who will not support this change in law.”