NPPC Backs Mandatory Price Reporting

US - The National Pork Producers Council (NPPC) says it fully supports the Mandatory Price Reporting provision contained in the 1999 Livestock Mandatory Reporting Act, which will expire on October 30, 2004, reports DTN.

NPPC Backs Mandatory Price Reporting - US - The National Pork Producers Council (NPPC) says it fully supports the Mandatory Price Reporting provision contained in the 1999 Livestock Mandatory Reporting Act, which will expire on October 30, 2004, reports DTN.

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In a press release, the group says it believes that Mandatory Price Reporting should be extended for one-year.

"Pork producers need a transparent, accurate and timely market price reporting system in order to make knowledge-based business decisions," said Jim Quackenbush, Chairman of NPPC's Competitive Markets Mandatory Price Reporting Work Group and a pork producer from Chokio, Minn.

"Mandatory Price Reporting makes markets more transparent and offers new market information with respect to pricing, contracting for purchase and supply and demand conditions for hogs, " he said. According to Quackenbush, a one-year price extension of the Mandatory Price Reporting provision would enable continued work amongst the various industry stakeholders in developing a cohesive set of recommendations for system improvement.

Source: National Pork Producers Council (NPPC) - 18th May 2004