Agricultural News
Senate Passes Price Reporting Reauthorization
Fri, 06 Aug 2010 17:01:27 CDTBefore the Senate moved into recess last week (week of August 2) - it passed by voice vote S. 3656. The bill would reauthorize for five years the Livestock Mandatory Reporting Act - which is set to expire September 30th. Senate Ag Committee Chairman Blanche Lincoln - who sponsored the bill along with Ranking Member Saxby Chambliss - says the effort will ensure that family farmers can remain confident they are receiving fair market value for the livestock they have worked tirelessly to bring to the market. Chambliss says mandatory reporting has proven to be a valuable tool for the livestock industry.
The bill adds to the reporting law provisions requiring weekly reporting of pork exports - by price and volume - and of wholesale pork cuts in order to expand transparency to the pork industry and further protect producers. It also instructs the Secretary of Agriculture to establish within one year an electronic price reporting system for dairy products.
Companion House legislation - sponsored by Agriculture Committee Chairman Collin Peterson - was approved by the Ag Committee last month. The full House is expected to take up the measure - H.R. 5852 - after lawmakers return from their month-long recess.
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