USDA Announces Cattle Contracts Library Program

The U.S. Department of Agriculture’s Agriculture Marketing Service (AMS) announced the establishment of the Cattle Contracts Library pilot program. Under the pilot program, AMS will collect, maintain, and report aggregated information on contracts between packers and cattle producers for the purchase of fed cattle. The library will include different types of contracts and contract terms, including contract terms on any schedules of premiums or discounts, delivery and transportation, terms and payments, financing, risk-sharing or profit sharing, and other financial arrangements. The program will become effective January 6, 2023.