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Wednesday, August 17, 2016
WASHINGTON—The U.S. Department of Agriculture's (USDA) Agricultural Marketing Service (AMS) today announced a final rule amending several swine and lamb reporting provisions related to the reauthorization of the Livestock Mandatory Price Reporting program.
As authorized by the Agriculture Reauthorizations Act of 2015, the final rule includes two amendments related to swine reporting requirements and one amendment to lamb reporting requirements.
The first swine reporting amendment requires packers to report swine purchased on a negotiated formula basis as a separate purchase category. The other swine reporting amendment requires packers to report all barrow and gilt purchases made after 1:30 p.m. Central time in their morning submission on the next reporting day.
The lamb reporting amendment revises the definition of "packer owned lambs." As a result of comments received, AMS did not incorporate reporting provisions regarding lambs committed for future delivery and pelts prices paid to producers as published in the proposed rule.
Thousands of business transactions every day rest on the outcome of Livestock Mandatory Price Reporting data. The program provides marketing information for cattle, swine, lamb, and livestock products that producers can readily understand and utilize. Livestock Mandatory Price Reporting encourages competition in the marketplace by improving price and supply data, bringing transparency, breadth and depth to market reporting.
The final rule will be published in the Federal Register on Aug. 11, 2016. The final rule becomes effective on Oct. 11, 2016. For additional information, please contact: Michael Lynch, Director; Livestock, Poultry, and Grain Market News Division; Livestock, Poultry, and Seed Program; 1400 Independence Ave. S.W., Room 2619-S Bldg., Ag STOP 0252; Washington, DC 20250-0252; Phone: (202) 720-4846.article from Morning AgClips