WASHINGTON D.C.- Sen. Deb Fischer and a bipartisan group of senators have come together on a plan intended to address the growing disparity between the price that ranchers are paid for their cattle and what consumers pay for beef.

The Nebraska Republican and the other lawmakers said that their compromise measure would require meatpackers to acquire more of their cattle through open bidding and also promote more transparency in the nation’s cattle markets.

Fischer said it’s important that everyone along the beef supply chain — cow-calf producers, feeders, packers, and consumers — be treated fairly. That starts with robust cash sales for cattle, she said.

“We are looking for ways that everyone can profit, and for consumers to be able to benefit from getting good beef,” Fischer said in an interview. “I’m hearing from people all over the country, not just Nebraska, on the importance of getting this done.”

While consumers are paying record prices for beef — and packers are often making record profits — farmers and ranchers have endured years of declining prices for their cattle. Many producers blame the market conditions on the extreme consolidation in the nation’s meatpacking industry.

Fischer, Grassley, and Democrats Ron Wyden of Oregon and Jon Tester of Montana announced they had reached an agreement on a “Cattle Price Discovery and Transparency Act.”

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