U.S. Rep. Frank Lucas (R-OK) on Oct. 21 unveiled legislation to help America\u2019s livestock producers improve their risk management skills so they can better anticipate cattle prices.<\/p>\n
\u201cLivestock producers across the country have faced years of uncertainty and, like others, need every tool within their belt to manage risk and sharpen their ability to weather the market\u2019s uncertainty,\u201d Rep. Lucas said on Monday.<\/p>\n
The congressman cosponsored the Livestock Risk Management and Education Act, H.R. 4773, with bill sponsor U.S. Rep. Dusty Johnson (R-SD) that would authorize grants to certain state land-grant universities for bolstering risk management training for livestock producers on futures markets so they might better manage market volatility, according to a bill summary provided by Rep. Lucas\u2019 office.<\/p>\n
If enacted, H.R. 4773 would authorize the National Institute of Food and Agriculture (NIFA) to oversee grants and training resources on futures contracts and risk-management strategies, according to the summary.<\/p>\n
\u201cProducers already face an uphill battle of unpredictable weather, understanding cattle prices doesn\u2019t need to be an added challenge,\u201d said Rep. Johnson. \u201cThe Livestock Risk Management and Education Act will supply producers with the tools needed to anticipate highs and lows in the futures markets.\u201d<\/p>\n
\u201cWhile we\u2019ve seen tremendous signs of a strong economy \u2014 witnessing record declines in unemployment and rising wages across America \u2014 sadly, our nation\u2019s farm industry continues to face challenging times, leaving our producers vulnerable to disruptions provoked by market instability and other factors,\u201d added Rep. Frank Lucas. \u201cOur producers rise to the challenge day in and day out and the Livestock Risk Management and Education Act would help provide stability for those that feed billions across the globe.\u201d<\/p>\n
H.R. 4773 has been referred for consideration to the U.S. House Agriculture Committee.<\/p>\n","protected":false},"excerpt":{"rendered":"
U.S. Rep. Frank Lucas (R-OK) on Oct. 21 unveiled legislation to help America\u2019s livestock producers improve their risk management skills so they can better anticipate cattle prices. \u201cLivestock producers across […]<\/p>\n","protected":false},"author":14,"featured_media":3772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202,200,201,1],"tags":[],"acf":[],"yoast_head":"\n