Mandatory Price Reporting Rule Released

U.S. Agriculture Secretary Dan Glickman announced on Nov. 28 the federal rule that requires packers to release contract and pricing information.The final rule was published on Dec. 1 and takes effect after 60 days.The rule establishes mandatory price reporting under the Livestock Mandatory Reporting Act of 1999. Pork packers who slaughter more than 100,000 head/year are required to report to USDA

U.S. Agriculture Secretary Dan Glickman announced on Nov. 28 the federal rule that requires packers to release contract and pricing information.

The final rule was published on Dec. 1 and takes effect after 60 days.

The rule establishes mandatory price reporting under the Livestock Mandatory Reporting Act of 1999. Pork packers who slaughter more than 100,000 head/year are required to report to USDA transaction details involving purchases and sales of livestock. Firms will be required to report transaction information for swine purchases three times/day.

USDA, through the Agricultural Marketing Service, will then provide the information to the public.

For more information, log on to www.ams.usda.gov/lsg/price.htm.