The U.S. Department of Agriculture recently launched a pilot Cattle Contracts Library on the Agricultural Marketing Service website to increase market transparency for cattle producers.

The library provides disclosure on key terms, conditions and volumes of cattle contracts and will help producers negotiate better terms, monitor risks and take advantage of market opportunities, according to a Jan. 31 news release.

“USDA is committed to creating a more level playing field for cattle producers and a more balanced, equitable economy for everyone working in food and agriculture,” Agriculture Secretary Tom Vilsack said in the release. “The Cattle Contracts Library Pilot Program supports this commitment by providing producers with the market information they need to make informed production, marketing and business decisions.”

The library is a result of the Consolidated Appropriations Act of 2022 and aims to bring transparency to the largest part of the cattle market, the release reported.

“With this Cattle Contract Library pilot, America’s ranchers will enjoy an exciting new window into market opportunities and trends in cattle contracts, one of the most critical parts of the cattle marketplace,” USDA Under Secretary for Marketing and Regulatory Programs Jenny Lester Moffitt said in the release. “Transparency is the foundation of fair and competitive markets and critical for producers seeking to grow economic opportunities."

The library will have information from active contracts and have the same design as the working model shared with stakeholders last year, the news release said. 

"As we continue to lay the groundwork for more and better markets, USDA looks forward to working with all stakeholders and Congress to enable this pilot library to deliver meaningful and lasting value to producers,” Moffitt said in the release.