Mandatory Price Reporting Extended in Resolution Bill

USAgNet - 02/21/2022

The Senate and the House have both approved a Continuing Resolution that keeps the federal government running and again extends USDA’s mandatory price reporting authority through March 11.

The Livestock Mandatory Report Act (LMRA), which is critical to the U.S. pork industry, requires meatpackers to report to USDA the prices they pay for cattle, hogs and lambs and other information.

USDA uses the data to publish twice-daily reports with information on pricing, contracting for purchase, supply and demand conditions for livestock, livestock production and livestock product values.

Ag groups have been urging congressional lawmakers not to let LMRA lapse and asking for a five-year reauthorization of it that includes enhancements that would benefit pork producers.

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