House Votes to Extend Livestock Mandatory Price Reporting
WASHINGTON-Today, the House of Representatives voted to reauthorize the Livestock Mandatory Reporting Act of 1999 and to improve the reporting provisions of the Act related to swine.
House bill 3408 extends the Livestock Mandatory Price Reporting Act, which was passed in 1999 to aid farmers suffering from low livestock prices. The mandatory price reporting program gives livestock producers more information so they can make better business decisions.
Under the Livestock Mandatory Price Reporting Act, producers must report to the U.S. Department of Agriculture's Agriculture Marketing Service the price, quantity, and terms of sale for all domestic cattle, swine, lambs. H.R. 3408 also expands the information that must be reported about the sale of swine and includes new provisions that prevent lapses in reporting.
The Act has created a more cost-effective and transparent livestock market with better prices for producers. As a result, livestock producers are now able to sell their products at an efficient market price.
"The mandatory price reporting program has served the industry well," said Congressman Collin Peterson. "Today's vote ensures that producers can continue to operate in a fair and transparent market."
For more information contact - John Crabtree, email@example.com - or just post a comment here - most of all I would like to know how producers feel about market transparency in livestock markets today, what have you experienced?
Center for Rural Affairs
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