Cattlemen achieved a significant victory on Capitol Hill last week, when the U.S. Senate finally approved the 2005 House Bill (H.R. 3408) that reauthorizes Mandatory Price Reporting obligations for meat packers. The law requires packers to report daily price and volume information on both negotiated and non-negotiated purchases of cattle and boxed beef.  It was first enacted in 2001. But as NCBA CEO Terry Stokes reports, the law has been saddled with an annual “sunset” provision, requiring it to be reauthorized every year.
 
Cut #1         :10          Outcue: "...on other issues."

H.R. 3408 sailed through the House of Representatives last year, but ran into opposition from a couple of U.S. Senators. This caused the bill to expire last fall, and it took almost a full year to gain reauthorization.

Cut #2         :36          Outcue: "...doesn’t make much sense."

But now the law is reinstated through September 2010, and Stokes says this will allow the cattle industry to focus on improving regulatory and enforcement practices, instead of lobbying every year for reauthorization.
 
Cut #3         :29          Outcue: "...instead of on Capitol Hill."

Stokes explained that while NCBA favors minimal government intervention in the cattle business, Mandatory Price Reporting is a necessary tool for maintaining a free and open market.

Cut #4         :35          Outcue: "...for all cattlemen."

H.R. 3408 will become effective upon President Bush’s signature, which is expected soon.