The rule requires packers to submit the price of each sale, quantity, and other characteristics (e.g., type of sale, item description, and destination) that USDA's Agricultural Marketing Service (AMS) will use to produce market reports that will be disseminated to the public. The Mandatory Price Reporting Act of 2010 added wholesale pork cuts to the commodities larger packers must report through the livestock mandatory reporting program. Cattle, swine, sheep, boxed beef, boxed lamb, and imported lamb meat already are covered under the program.
“Implementing the mandatory wholesale pork reporting program provides market participants with considerably more market information than they have had in the past,” said Craig Morris, the Deputy Administrator of the AMS Livestock and Seed Program. “Further, a mandatory wholesale pork reporting program will ensure that accurate, unbiased market information is available to all market participants, ultimately benefitting consumers through improved price discovery in the sector.”
Notice of the final rule will be published in the Aug.22 Federal Register. The program will be effective on Jan. 7, 2013.
