NPPC Hails Senate Passage Of Price Reporting Law
WASHINGTON, D.C. - The National Pork Producers Council today applauded the U.S. Senate for reauthorizing the law requiring meat packers to report the prices they pay producers for animals.
22 September 2006
2 minute read
Senators approved by unanimous consent a five-year reauthorization of the Livestock Mandatory Reporting Act of 1999. The House passed an identical bill last September. The law expired Sept. 30, 2005.
“Pork producers are extremely grateful to the Senate for taking action on this important legislation,“ said NPPC President Joy Philippi, a pork producer from Bruning, Neb. “The mandatory price reporting law is an important tool that helps producers make business and production decisions.“
The legislation, which had bipartisan congressional support and backing from the animal agriculture industry, also includes three enhancements to the pork reporting provisions:
- Adding more sows to the pricing reports to more accurately reflect the sales and prices paid in the sow market.
- Changing the timing for data reporting to help USDA with its workload and, thus, increase report accuracy and efficiency.
- Allowing USDA to publish price distributions for net prices to provide more useful information than is currently provided by the price ranges specified in the law while maintaining the current confidentiality requirements.
