News Date: 05/20/2008
USDA's Agriculture Marketing Service (AMS) on May 15 issued the final regulation to re-establish and revise the Livestock Mandatory Reporting (LMR) program. This rule facilitates open, transparent price discovery and provides all market participants, both large and small, with comparable levels of market information for cattle, swine, sheep, beef, and lamb meat.
USDA implemented the LMR program in 2001 as required by the Livestock Mandatory Reporting Act of 1999. The statutory authority for the program lapsed in 2005. At that time, AMS sent letters to all packers required to report under the 1999 Act, requesting they continue to submit information voluntarily. The packers' cooperation has allowed USDA to publish most reports.
In October 2006, Congress enacted legislation to reauthorize the 1999 Act through 2010, and to amend the swine reporting requirements. The legislation separates the reporting requirements for sows and boars from barrows and gilts, among other changes. Because statutory authority for the program had lapsed, USDA must reestablish regulatory authority through rulemaking. This rule reestablishes the regulatory authority for the program's continued operation. The rule incorporates the swine reporting changes contained within the 2006 legislation, as well as enhances the program's overall effectiveness and efficiency based on AMS' experience in the administration of the program over the past six years. The final rule will become effective July 15, 2008. Copies of the rule and additional information are available at http://www.ams.usda.gov/LSProgram. (Contact: Charlie Ingram)
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