Oklahoma House Bill HB2838

Oklahoma 2024 Regular Session

• Introduced: 2/6/23
• Refer: 2/7/23

Caption

Agriculture; cattle market reports; disclosing methodology; effective date.

Impact

If enacted, HB 2838 will establish a new section within the Oklahoma Statutes, specifically focusing on disclosures related to cattle market pricing. This law seeks to standardize how cattle market reports are generated and the parameters involved in their creation. By implementing these requirements, the bill intends to foster trust and reliability in cattle market analyses, which could have far-reaching implications for agricultural policy and ranch management in Oklahoma.

Summary

House Bill 2838 aims to increase transparency in the agricultural sector by requiring businesses that produce cattle market reports to disclose their methodologies to the Oklahoma Department of Agriculture, Food and Forestry quarterly. This legislative measure reflects an effort to ensure more accountability and clarity in cattle market pricing, which can significantly impact farmers, ranchers, and other stakeholders in the industry. The bill mandates that the Department list these methodologies on its website, thereby making the information accessible to the public and key industry players.

Contention

While the intention behind HB 2838 is to enhance transparency in the agricultural industry, there may be concerns among some stakeholders regarding the implications of regular disclosures on business operations. Industry representatives might argue about the potential for increased regulatory burden and the costs associated with complying with these new requirements. Conversely, advocates for transparency may contend that such measures are necessary to protect both producers and consumers from misleading pricing practices and to ensure fair competition within the market.