Political Quotes

“Madam Speaker, S. 3656, the Mandatory Price Reporting Act of 2010, is a straightforward, 5-year reauthorization of a program that began with passage of the original legislation in 1999. The original act came as a result of many months of negotiations between a broad array of industry participants and required packers to report livestock purchase prices to USDA's Agriculture Marketing Service. Both producers and packers agree that mandatory price reporting plays an important role in transparent, accurate and timely decision-making for participants in today's livestock markets. This program was last reauthorized during the 109th Congress. As with that original legislation and subsequent reauthorizations or amendments, S. 3656 represents a consensus view of many producer and packer interests with a direct stake in the reporting program. S. 3656 will make some small changes to the existing reporting program. First, reporting of wholesale pork cuts will be required for the first time. The details of this new rule will be worked out in the rulemaking process. Second, there will now be reporting on a weekly basis of pork exports.”