Thomas Daschle: “Today several colleagues and I are introducing the Cattle Industry Improvement Act of 1996. This legislation addresses…”

“Today several colleagues and I are introducing the Cattle Industry Improvement Act of 1996. This legislation addresses the deep concern of cattle, hog, and sheep producers across the Nation that the livestock industry does not operate in a free and open market. Livestock producers, especially cattle producers, are receiving the lowest prices in recent memory. Producers can barely make ends meet, let alone make a profit. The Cattle Industry Improvement Act is a fair, substantive bill which offers commonsense solutions to problems that have plagued the livestock industry for a long time. For the last 2 years the issue of livestock concentration has been the No. 1 agricultural issue in South Dakota, even exceeding interest in the farm bill. Livestock concentration and low cattle prices do not just affect farmers and ranchers in my State. The impact is felt by the entire economy of South Dakota, affecting people who live in cities, towns, and rural communities alike. A recession in the cattle industry has a ripple effect throughout the entire State the consequences of which are potentially devastating.”