House approves legislation to reauthorize the law requiring price reporting

The National Pork Producers Council applauded the House for approving legislation to reauthorize the law requiring meat packers to report to the U.S. Department of Agriculture the prices they pay producers for animals. The legislation, which previously was approved by the Senate, now goes to the president to be signed into law. It reauthorizes for five years the Livestock Mandatory Reporting Act, which was set to expire Sept. 30, and includes new provisions requiring weekly reporting of pork exports – by price and volume – and of wholesale pork cuts. NPPC President Sam Carney said the addition of export and wholesale cuts reporting will further help producers like me make business and production decisions. “The Livestock Mandatory Reporting Act is what provides transparency and certainty in the livestock markets and allows competition to thrive,” Carney said. “The new provision for wholesale pork reporting will make pricing data more fully reflect the marketplace today. The pork industry has changed since the reporting act was first adopted in 1999.”

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