Summary Congress passed and the president signed mandatory price reporting legislation as part of a broad agriculture appropriations package in October 1999. The legislation s intentions are clear to provide more accurate and timely market information within the industry. N.C. The U.S. Department of Agriculture in March released two proposed rules for implementing mandatory price reporting. NCBA will carefully review these proposals and submit comments to ensure the provisions remain consistent with the intent of the legislation and NCBA policy.
Packers also report beef exports and imports.
The new law directs USDA to improve its retail price reports. Volume and quality information will also be reported for packer-owned cattle. The legislation s intentions are clear provide more accurate and timely market information within the industry. Background Four major packers slaughter 80 percent of fed cattle and process about 85 percent of boxed beef. Given this high concentration, it s crucial to maintain a level playing field within the industry.