Agricultural News
Organization Supported Mandatory Price Reporting
Wed, 15 Sep 2010 17:01:31 CDTThe U.S. House has now jointed the Senate in approving reauthorization of the Livestock Mandatory Price Reporting provisions contained in the 2006 Livestock Mandatory Reauthorization Act. The included provisions are part of a carefully balanced consensus legislative package reached by interested stakeholders over a long period of negotiation and discussion representing all segments of the industry.
According to National Farmers Union president Roger Johnson - mandatory price reporting makes markets more transparent and offers new market information with regard to pricing, contracting for purchase, and supply and demand conditions for cattle, hogs and sheep. He said - this is vital for U.S. farmers and ranchers in current economic times.
The National Pork Producers Council is pleased too. The legislation reauthorizes for five years the Livestock Mandatory Reporting Act, which was set to expire September 30, and includes new provisions requiring weekly reporting of pork exports – by price and volume – and of wholesale pork cuts. NNPC President Sam Carney said - the addition of export and wholesale cuts reporting will further help producers like me make business and production decisions.
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