The Mandatory Livestock Reporting program expired on Friday because the U.S. Congress has failed to extend it.
Although USDA won’t mandate packers to file the reports, most will do so anyway. USDA has talked to packers and has gotten voluntary cooperation among many to continue the price reports.
The Senate and House of Representatives each approved an extension earlier this month, but disagreements in how long the LMPR program should be extended resulted in a stalemate. On Sept. 13, the Senate approved a one-year extension for the program, and the next day, the House approved a five-year extension. Beyond the length of the extension, they also differed on whether or not to expand reporting on swine purchased by packers.
In addition, a federal dairy program expried. The Milk Income Loss Contract program expired on Friday. This program was written into the 2002 Farm Bill to compensate dairy producers when the domestic market price of milk dropped below a specific price, or target level.
Dow Jones, The Badger Herald