HELENA, Mont. (March 20, 2020) – On March 19, 2020, Senator Jon Tester and Senator Steve Daines signed onto proposed legislation that would direct the Secretary of Agriculture to use Commodity Credit Corporation (CCC) funds to offset losses cattle producers are facing in the live and feeder cattle markets. The legislation would be included in a COVID-19 response bill.
The program would be administered through the Farm Service Agency (FSA) and would use USDA projections for 2020 as a baseline for market losses. FSA would make payments to producers that sold feeder cattle or live cattle during any month in calendar year 2020. The program would pay the difference between USDA’s projected prices and the actual sale price of livestock and would be limited not more than 10,000 head.
In the essence of this critical situation, MSGA convened to review this legislation amongst our executive team and decided unanimously to support this draft legislation.
“Because of this extreme and unique situation, it’s important to provide this short-term relief effort for as long as this pandemic persists,” said MSGA President, Fred Wacker. “We need this price support legislation to keep our producers on the ground.”
As a critical part of the food supply chain, it is essential cattle producers remain viable. We believe this temporary, price support legislation will ease the burden that has been put on producers.
MSGA would like to thank Senators Tester and Daines for their efforts to help our cattle producers through this devastating situation.
CONTACT:
Keni Reese
Director of Marketing & Communications, MSGA
406-603-4024
[email protected]
To view more MSGA news, visit https://mtbeef.org/news/
