Senators update PSA bill

R-CALF USA praised U.S. Senators Mike Enzi, R-Wyo., Tim Johnson, D-S.D., Chuck Grassley, R-Iowa, and Jon Tester, D-Mont., for their recent introduction of the Livestock Marketing Fairness Act that updates the Packers and Stockyards Act of 1921 (PSA) by prohibiting certain anticompetitive buying practices of meatpackers – practices that were neither practiced nor contemplated when the 90-year-old PSA was passed, but now are pervasive in the U.S. cattle market.

Ninety years ago fed cattle were sold at auction in stockyards, so packers had to bid against one another in a public setting in order t...