Washington, D.C. – U.S. Senator Mike Enzi, R-Wyo., is pleased that Wyoming ranchers will continue to receive important marketing information for their livestock. Enzi praised the reauthorization of the program aiming to improve transparency and price reporting in the industry.
The U.S. Senate unanimously passed the “Mandatory Price Reporting Act of 2010” (S. 3656) on Aug. 5 to continue the reporting on sales of livestock and dairy products. Enzi supported the first bill to require price reporting in the 1999 Fiscal Year 2000 Agriculture Appropriations Act.
“Renewing the price reporting program ensures that producers are not left in the dark about the prices that beef and sheep are fetching at markets around the country. Access to price information is one of the key elements to running a successful business operation and this bill allows more information to flow,” Enzi said.
The Mandatory Price Reporting law for livestock requires packers, processors and importers to report critical market data to the U.S. Department of Agriculture, which is then calculated, published and made available to the industry.
The House of Representatives has introduced a similar bill and, if passed, it will go to the President’s desk for his expected signature.