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Thomas, Enzi: Livestock Price Reporting Needs To Happen Now

by 5m Editor
17 May 2007, at 7:07am

US - Sens. Craig Thomas and Mike Enzi (both R-Wyo.) are urging the Secretary of Agriculture to speed up the process for implementing a law that is critical for transparency in livestock markets.

Thomas, Enzi and seven other senators sent a letter to Secretary of Agriculture Mike Johanns on May 14 asking that rules to implement the Livestock Mandatory Reporting Act, signed into law on Oct. 5, 2006, be sped up to help level the playing field in the access to information for livestock producers.

“Under the Livestock Mandatory Reporting Act, packers, processors and importers are required to report critical market data to USDA, which is then calculated, published and made available to the industry. The reported prices and other information have become an integral part of setting prices paid for livestock in the United States, both under contracts and in the open market,” the senators wrote. “Šuntil an interim final rule or final rule is published, the mandatory reporting system will remain a voluntary program. We ask that you expedite this process and publish an interim final rule without delay.”

Source: LivestockRoundup

5m Editor