Livestock price reporting reauthorisation
The US Senate has approved a reauthorisation of mandatory livestock price reporting for five years.
For pork producers the reauthorisation means much, National Pork Producers Council (NPPC) President Joy Philippi said. NPPC members themselves were closely involved in securing the passage. “The mandatory price reporting law is an important tool that helps producers make business and production decisions.”
Philippi said the return of mandatory price reporting will improve the ability of pork producers to market hogs.
Identical to 2005 bill
The Senate bill is identical to a bill passed by the House of Representatives in the end of 2005, just before the law expired. Senators approved the new five-year reauthorisation of the Livestock Mandatory Reporting Act of 1999, with some changes requested by the livestock groups, by unanimous consent:
• Adding more sows to the pricing reports to better reflect the sales and prices paid.
• Changing the timing for data reporting to help USDA with its workload and increase report accuracy.
• Allowing USDA to publish price distributions for net prices to provide more useful information than is currently provided by the price ranges specified in the law while maintaining the current confidentiality requirements.
The measure now heads to president Bush for his signature.
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