Members of the National Cattlemen’s Beef Association (NCBA) are applauding last night's passage of legislation to reauthorize Mandatory Price Reporting in the U.S. House of Representatives. The original legislation mandated by Congress in 1999 included a sunset provision. This action extends that sunset provision for one year. The bill passed in the Senate last month.
“Mandatory Price Reporting is a valuable component in achieving transparency in the marketplace by providing more information to producers,” explains NCBA President and Kansas cattle producer Jan Lyons. “For years, NCBA policy has stressed the importance of this legislation, and we continue to gather feedback from all NCBA members regarding this reauthorization, to ensure the law works for the benefit of producers and provides producers with the information they need.”
Mandatory price reporting requires packers report to USDA Agricultural Marketing Service (AMS) daily price and volume information on negotiated and non-negotiated purchases of cattle and boxed beef sales. Packers also report beef exports and imports. The legislation directs USDA to improve its retail price reports. Volume and quality information are also reported for packer-owned cattle.
”During the 1999 legislative session, the cattle industry worked with other meat industry producer groups, packers, Congress and the Administration to develop a consensus on this issue that not only meets NCBA goals, but also could be enacted into law,” says Lyons. “NCBA will continue to work with the USDA regarding the details of this reauthorization.”
Despite its recent sunset, USDA has continued to collect information and implement Mandatory Price Reporting. After passage in both the House and Senate, the legislation now heads to the President’s desk for his signature. The President is expected to sign the bill into law.