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Senate Passes Price Reporting Reauthorization

Before the Senate moved into recess last week it passed by voice vote S. 3656. The bill would reauthorize for five years the Livestock Mandatory Reporting Act, which is set to expire Sept 30. Senate Ag Committee Chairman Blanche Lincoln, who sponsored the bill along with Ranking Member Saxby Chambliss, says the effort will ensure that family farmers can remain confident they are receiving fair market value for the livestock they have worked tirelessly to bring to the market. Chambliss says mandatory reporting has proven to be a valuable tool for the livestock industry.

The bill adds to the reporting law provisions requiring weekly reporting of pork exports by price and volume and of wholesale pork cuts in order to expand transparency to the pork industry and further protect producers. It also instructs the Secretary of Agriculture to establish within one year an electronic price reporting system for dairy products.

Companion House legislation, sponsored by Agriculture Committee Chairman Collin Peterson was approved by the Ag Committee last month. The full House is expected to take up the measure, H.R. 5852, after lawmakers return from their month-long recess.

The Livestock Mandatory Reporting Act enjoyed the support of groups like the National Pork Producers Council and National Cattlemen's Beef Association. But not willing to rest on the victory of Senate passage, Iowa pork producer and NPPC President Sam Carney urged the House to swiftly act on its version of the bill. He says it will help producers make business and production decisions. Carney says the law will bring even more transparency and certainty to the livestock markets. He says this is the way to bring about competition and fairness.

Colin Woodall, Vice President of Government Affairs for NCBA, points out that this mandatory reporting provides U.S. producers with readily understandable and timely information regarding pricing, contracting for purchase and supply and demand conditions for all segments of the beef industry. Woodall explained that along with transparency, mandatory price reporting encourages competition in the marketplace without violating producer privacy by substantially increasing the volume of industry sales transactions reported by the USDA.

Many other agriculture industry leaders were also pleased with the bill's passage including leaders for the American Farm Bureau Federation; National Farmers Union; International Dairy Foods Association; the National Milk Producers Federation; and the American Sheep Industry.