Rep. Dusty Johnson, R-S.D., a member of the House Agriculture Committee, on Thursday introduced the “Price Reform in Cattle Economics (PRICE) Act,” a bill he said would “increase transparency in the cattle market, improve risk management, and support new and expanding meat processors.”

In a news release, Johnson said the bill was written in reaction to the extreme market volatility following the Tyson Holcomb, Kan., plant fire in 2019 and again during the COVID-19 pandemic.

“Cattle country is hurting and has not fully recovered,” said Johnson. “USDA laid out several areas where Congress can implement real solutions to improve the market — the PRICE Act is the answer to many of the issues our ranchers have faced for years. Our producers want a fair market and fair prices and that’s what this bill delivers. Congress needs to deliver for cattle country.”

The PRICE Act is cosponsored by House Agriculture Committee ranking member Mike Conaway, R-Texas, and Reps. Darren Soto, D-Fla., Glenn “GT” Thompson, R-Pa., Roger Marshall, R-Kan. Henry Cuellar, D-Texas, Frank Lucas, R-Okla., Greg Gianforte, R-Mont., David Rouzer, R-N.C., Rick Crawford, R-Ark., Jason Smith, R-Mo., Tom Emmer, R-Minn. and Jim Hagedorn, R-Minn.

The PRICE Act is supported by the American Farm Bureau Federation, South Dakota Cattlemen’s Association, and National Cattlemen’s Beef Association.