Will farm-state lawmakers derail the U.S. Department of Agriculture's (USDA) livestock marketing regulations? We don't think so. This is the view of the editors of the Kiplinger Agriculture Letter.
Some in Congress complain that USDA's proposed rule, which would make livestock pricing more transparent and try to ensure that packers compete for animals, goes beyond a 2008 Farm Bill order that such rules be tightened. In a bipartisan letter, 115 House members press USDA to re-examine the impact that the regulations would have on the livestock industry and meat markets.
USDA will go slower and conduct more economic studies before the regulations are finalized. It seeks comments until Nov. 22. Final rules are likely by mid-2011, but implementation may take years.
Reprinted in part from the Kiplinger Ag Letter