Agricultural News
Mandatory Price Reporting Reauthorization Signed
Mon, 27 Sep 2010 16:51:52 CDTMandatory Price Reporting Reauthorization legislation has been signed into law by President Obama. The bill extends reporting requirements of livestock daily markets for five years and adds pork and dairy requirements. Ag Committee Chairman Blanche Lincoln says - the legislation will ensure that family farmers and ranchers will receive fair market value for their livestock.
In addition to current law, the bill calls for reporting on Mandatory Reporting of Wholesale Pork meat cuts. This new provision is designed to improve transparency to the pork industry and further protect producers. National Pork Producers Council President Sam Carney, a pork producer from Adair, Iowa, says - the addition of export and wholesale cuts reporting will further help producers like me make business and production decisions.
The bill also instructs the Secretary of Agriculture to establish within one year an electronic price reporting system for dairy products which will make it easier for milk producers to obtain current milk prices. National Milk Producers Federation President and CEO Jerry Kozak says - USDA will have to do what it takes to establish dairy price reporting. Connie Tipton of the International Dairy Foods Association expects the Mandatory Price reporting law will lead to important improvements in the efficiency and transparency of the dairy industry.
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