Obama signs livestock bill co-sponsored by Cochran
WASHINGTON – President Obama has signed into law bipartisan legislation cosponsored by Sen. Thad Cochran (R-Miss.) to extend a program that helps producers find the best prices for their livestock.
The Livestock Mandatory Price Reporting Act (PL.111-239) includes a five-year reauthorization of the U.S. Department of Agriculture (USDA) federal mandatory price reporting program that guarantees greater transparency within the livestock and dairy marketing sector. The reauthorization extends to 2015.
The new law makes two notable changes to the existing price reporting program, including requiring greater transparency within the Mandatory Reporting of Wholesale Pork. It also directs the Secretary of Agriculture to establish an electronic reporting system for dairy products within one year.
In general, the Livestock Mandatory Price Reporting Act requires meat packers to report to the USDA Agricultural Marketing Service daily price and volume information on purchases of cattle and boxed beef sales, as well as beef exports and imports. This information serves as an asset to producers negotiating the sale of their meat products by improving market transparency.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Analyst: KiOR Columbus plant may end up sold as scrap
- Warden who lives hundreds of miles from jail resigns
- Jail kitchen supervisor pleads guilty to stealing food
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Hunting-weapons legislation passes House