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Senate Approves Price Reporting Reauthorisation

by 5m Editor
9 August 2010, at 11:00am

US - The Senate last night approved legislation to reauthorise the law requiring meat packers to report to the US Department of Agriculture the prices they pay producers for animals.

The National Pork Producers Council strongly supports the law and its extension.

Senators passed by voice vote S. 3656, sponsored by Senate Agriculture Committee Chairwoman Blanche Lincoln, D-Arkansas, and Ranking Member Saxby Chambliss, R-Georgia, to reauthorise for five years the Livestock Mandatory Reporting Act, which is set to expire on 30 September. The reauthorising bill, which would extend the law to 30 September 2015, also adds to the reporting law provisions requiring weekly reporting of pork exports – by price and volume – and of wholesale pork cuts.

“NPPC is grateful that the Senate has approved extension of this important law on mandatory price reporting,“ said NPPC President Sam Carney. “We implore the House to act swiftly on its bill reauthorising the price reporting law, which will help producers make business and production decisions.“

Companion House legislation, sponsored by Agriculture Committee Chairman Collin Peterson, D-Minnesota, was approved by that panel on 28 July. The full House is expected to take up the measure, H.R. 5852, after lawmakers return from a month-long recess.

“The reauthorised price reporting law will bring even more transparency and certainty to the livestock markets,“ Mr Carney said.“This is the way – Congress working with the industries rather than bureaucrats dictating to them through regulations – to bring about competition and fairness.“

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