USDA is seeking comments on a proposed rule that implements an amendment to requirements of swine packers in their reporting of wholesale pork sales.
The proposed rule outlines what information packers will be required to submit to the USDA Agricultural Marketing Service (AMS), how the information should be submitted and other program requirements. The proposed rule requires packers to submit the price of each sale, quantity, and other characteristics such as type of sale and destination that AMS will use to produce market reports that will be disseminated to the public.
“Pork pricing reporting has been very thin in recent years, making it particularly difficult to assess pork and hog values,” according to the CME Daily Livestock Report. “The rule is expected to provide for more transparent wholesale prices for pork cuts.”
A mandatory wholesale pork reporting program is expected to ensure that accurate, unbiased market information is available to all market participants, and benefit consumers through improved price discovery in the sector. “ Implementing a mandatory wholesale pork reporting program will provide market participants with considerably more market information than they have had in the past,” said Craig Morris, deputy administrator of the AMS livestock and seed program.
Notice of the proposed rule will be published in the March 23, 2012 Federal Register. Comments must be received by May 22, 2012. Comments should be submitted electronically at www.regulations.gov or to Michael Lynch, Director; USDA, AMS, LS, LGMN Division; 1400 Independence Ave., SW, Room 2619-S; Washington, D.C. 20250; telephone number (202) 720-6231; or fax (202) 690-3732. Comments should reference docket number AMS-LS-11-0049 and note the date and page number of the issue of the Federal Register.
Submitted comments will be available for public inspection at www.regulations.gov, or during regular business hours at the above address. For further information contact Michael Lynch at the address or telephone number noted above or at Michael.Lynch@ams.usda.gov.
Read the proposed rule here.