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Congressman Smith talks about ethanol mandate
The drought has sent corn prices to record highs, which, in turn, has revived calls to end or ease the government's mandate on ethanol production.
With prices up 50% in the last six weeks alone; many say waiving the mandate would help struggling livestock producers keep their feed prices in check.
Third District Congressman Adrian Smith says it's too early to change the mandate.
"I think agriculture groups need to come together with a plan to move forward. I don't think we're ready to lift that renewable fuels standard," said Smith.
Smith says he prefers a hands off approach.
"The marketplace is perhaps not perfect, but certainly the best opportunity for producers producing for the marketplace. We know the prices go up, they go down, it can be a pretty volatile roller coaster as some would call it," Smith said.
Smith made his comments during a visit to the News 5 studios Thursday morning.
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