The U.S. House of Representatives approved passage of legislation to reauthorize Mandatory Price Reporting, which expired September 30, 2004. The original legislation mandated by Congress in 1999 included a sunset provision, and this action extends that sunset provision for one year. The bill passed in the Senate last month.
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 exports and imports. The legislation directs the USDA to improve its retail price reports. Volume and quality information are also reported for packer-owned cattle.
Both the National Cattlemen's Beef Association (NCBA) and National Pork Producers Council (NPPC) applauded the extension and called on members of Congress to take the lead in the rewriting the legislation in the next year.
NPPCâ€™s Competitive Markets Task Force has established a Mandatory Price Reporting Working Group charged with evaluating the current Mandatory Price Reporting program and developing program enhancements which will become the basis of a proposed reauthorization package during the 109th Congress â€“ or prior to the current programâ€™s extension deadline of September 30, 2005.
Berry says this one-year extension allows time for thoughtful and informed discussion amongst various stakeholders as Congress considers reauthorization. "We look forward to bipartisan support for the continued use of this key tool for producers," NPPC President Keith Berry says.
A statement from NCBA also says the organization continues 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.
Despite its recent sunset, the 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 Presidentâ€™s desk for his signature. The President is expected to sign the bill into law.