Congress has passed legislation extending the mandatory price reporting provision for one year. The extension expires Sept. 30, 2005.
“While pork producers are pleased by this action, we call on members of Congress to take the lead in the reauthorization of this important tool which helps producers make knowledge-based decisions and to have a better understanding of the marketplace,” says Keith Berry, Greencastle, IN, producer and president of the National Pork Producers Council.
Today, 53% of hogs sold in the U.S. are priced using this system. “By using this tool, producers are able to obtain more transparent and timely market information on pricing, contracting for purchase and supply and demand conditions for hogs,” Berry says.