Cattle markets took center stage last week at a pair of congressional hearings as economists, farmers and lawmakers grappled with potential solutions to wide spreads between live cattle prices and boxed beef prices. 

According to the Iowa Cattlemen’s Association (ICA), live values of cattle recently have hovered in the $1,500 to $1,700 per head range, while carcass values after processing are in the $2,500 to $2,700 range.

“Cattle producers in Iowa and across the nation have expressed grave concern regarding the severe … imbalance of leverage between those who raise cattle and those who process them into the beef we consume," said Jon Schaben of Dunlap, speaking to the U.S. Senate Judiciary Committee on behalf of the ICA. Schaben, who is co-owner of Dunlap...