Source:  Dani Friedland, MEATINGPLACE.COM, 9/28/10

President Barack Obama signed the Mandatory Price Reporting Reauthorization Bill into law on Sept. 21, 2010, according to the White House website.

The act extends reporting requirements for livestock daily markets for five years. In addition, the bill called for mandatory reporting of wholesale pork cuts.

Sen. Blanche Lincoln (D.–Ark.), who serves as chairman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, introduced the bill July 27. The Senate approved the bill in August and the U.S. House of Representatives approved the bill earlier this month.

“As a producer of high quality beef for a growing global population, I appreciate Sen. Lincoln’s efforts to help continue the availability of timely and accurate market information for U.S. cattle producers,” Bruce Hafenfeld, a California-based cattle producer and NCBA’s Policy Division Chair, said in a statement. “By reauthorizing Mandatory Price Reporting, cattle producers will continue to have access to daily price and volume information on purchases of cattle and boxed beef sales as well as export and import data. This effort to enhance transparency in the marketplace is a definite win for every aspect of the industry.”

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