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Agricultural News

Senate Okays Mandatory Price Reporting and Grand Standards Act- Bill Heads Back to the House

Tue, 22 Sep 2015 05:42:16 CDT

Senate Okays Mandatory Price Reporting and Grand Standards Act- Bill Heads Back to the House The Senate approved House Bill 2051 on Monday- passing the legislation by unanimous consent. The bipartisan legislation, which reauthorizes Mandatory Price Reporting (MPR), the National Forest Foundation Act and the U.S. Grain Standards Act (USGSA), was favorably reported out of the Agriculture Committee Thursday, Sept. 17.

"I'm proud to lead a Committee that gets things done in a timely manner," said Senate Ag Committee Chairman Pat Roberts. "We reauthorized three bills in one day that's practically unheard of in Congress."

H.R. 2051 reauthorizes MPR for livestock through 2020. MPR requires meat packers to report to USDA the prices they pay for cattle, hogs, and sheep purchased from farmers and ranchers for slaughter, as well as the prices they receive for the sale of wholesale beef, pork, and lamb. MPR requires USDA to issue daily, weekly, and monthly reports that detail the various transactions occurring in livestock and meat markets. This information provides producers and entities in the livestock industry a more transparent view of market conditions, allowing them to make informed decisions when negotiating the sale of their livestock.

According to Agri-Pulse- The National Pork Producers Council wanted lawmakers to use the bill to declare the price reporting system an emergency service. That would ensure that the Agriculture Department would continue issuing the reports during a government shutdown, but Senate Democrats wouldn't agree to the provision.

The National Forest Foundation, originally chartered by Congress in 1992, serves as a non-profit partner of the U.S. Forest Service to leverage public and private funding to restore and enhance the nation's National Forests and Grasslands. H.R. 2051 extends the National Forest Foundation authority through fiscal year 2018 with discretionary funding at $3 million per year, which is consistent with recent annual appropriations funding levels.

H.R. 2051 also reauthorizes USGSA through 2020. USDA's Federal Grain Inspection Service is responsible for establishing official marketing standards for U.S. grains and oilseeds and managing inspection. Included in this reauthorization is language that improves predictability and transparency for U.S. commodity producers, exporters and trading partners through increased reporting and certification requirements.

H.R. 2051 now heads back to the House for consideration. For more on the bill, click here.



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