The infamous 3/60 rule for mandatory price reporting may become a thing of the past, as USDA’s Agricultural Marketing Service has published the new 3/70/20 guidelines for confidentiality in price reporting.
AMS expects using the new guidelines will increase the numbers of published reports. Here are the new 3/70/20 guidelines:
- At least three reporting entities provide data at least 50 percent of the time over the most recent 60-day time period.
- No single reporting entity provides more than 70 percent of the data for a report over the most recent 60-day period.
- No single reporting entity may be the sole reporting entity for an individual report more than 20 percent of the time over the most recent 60-day period.
Under the previous guidelines, at least three entities had to provide data and no single entity could be responsible for more than 60 percent of the data for a report to be published.
USDA estimates that between April 2 and June 14, 30 percent of daily swine and cattle reports were withheld for confidentiality reasons. If the 3/70/20 rule had been applied over the same time period, fewer than 2 percent would have been withheld.
American Meat Institute