The House Agriculture Committee passed legislation last week to renew mandatory price reporting for five-years. The bill will allow the USDA to deem various Agricultural Marketing Service employees as essential which would allow AMS to continue to release price reports during a government shutdown.
The bill makes various changes advocated by the pork industry including the definition of “negotiated formula purchase.” The legislation requires the AMS to publish “the total number of weighted average price of barrows and gilts purchased through negotiated purchases and negotiated formula purchases.” The USDA would also report information about transactions that occur after the afternoon reporting deadline in both the following day morning and afternoon reports.
The USDA is also requested to report to Congress the efficacies of the price reporting program and suggested changes. The bill is expected to be considered by the House of Representatives later this month. Mandatory price reporting requirements expire Sept. 30.