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USCA Testimony Highlights Market Volatility, Opportunities For Success

The United States Cattlemen’s Association (USCA) testified Thursday during the Senate hearing, “A Review of the U.S. Livestock and Poultry Sectors: Marketplace Opportunities and Challenges”. Joe Goggins (Billings, Montana), Vice President Vermilion Ranch Co., Public Auction Yards, Billings Livestock Commission Co., Western Livestock Auction and Northern Livestock Video Auction, testified on behalf of USCA.
 
USCA Testimony Highlights Market Volatility, Opportunities for Success
 
Goggins was joined on the hearing panel by Mr. Tracy Brunner, President, National Cattlemen's Beef Association; Mr. Ronald Truex, Chairman, United Egg Producers; Dr. Howard Hill, Past President, National Pork Producers Council; and Mr. John Zimmerman, Producer, National Turkey Federation/Minnesota Turkey Growers Association. The witnesses represented a wide range of voices in the livestock industry and brought unique perspectives from each sector of the supply chain.
 
Goggins’ testimony focused on the opportunities and challenges that lie ahead for the U.S. livestock industry while also noting several contributing factors to both the current market volatility and issues that will aid the industry in the years to come.
 
Goggins specifically referenced ways in which the industry can continue to enhance transparency, achieve market stability and encourage improvements and innovation across industry standards. 
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USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.