New Rule on Price Reporting

USDA on Oct. 31 said it is developing a new regulation for Mandatory Livestock Price Reporting, which must be issued before the mandatory program can resume. Since the original 1999 legislation expired in September 2005, USDA has asked packers who were required to report under the mandatory act to voluntarily submit market information.

The law required meat packers who process more than 125,000 head annually to report daily price and volume information on negotiated and non-negotiated purchases of cattle and boxed-beef sales. Companies also reported beef exports and imports.

Due to the high percentage of voluntary participation, USDA has continued to publish most reports, except for imported boxed lamb cuts and slaughter cow reports. NCBA urges companies to continue voluntary reporting until the mandatory rule is in place.