Senator Blanche Lincoln (D-AR), Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry, "announced that her Mandatory Price Reporting Reauthorization legislation has been signed into law, extending reporting requirements of livestock daily markets for five years" according to Press Release from Sen. Lincoln's office.
"In addition to the current law, Lincoln's bill calls for reporting on Mandatory Reporting of Wholesale Pork (MRWP) meat cuts. This new provision will improve transparency to the pork industry and further protect producers. The bill also instructs the Secretary of Agriculture to establish within one year an electronic price reporting system for dairy products which will make it easier for milk producers to obtain current milk prices."
Connie Tipton of the International Dairy Food Association said that the "Mandatory Price Act will allow USDA to collect and report pricing data electronically, leading to important improvements in the efficiency and transparency of the dairy industry."
To read the Press Release, click here.
Posted: 09/28/2010
