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House-passed bill authorizes price reporting through 2020

The U.S. House Monday reauthorized Mandatory Price Reporting, which was set to expire Wednesday.

If it’s signed, Mandatory Price Reporting, authorized through the year 2020, ensures the continued flow of livestock market information.

The measure requires meat packers to report to USDA the prices they pay for cattle, hogs and sheep, as well as the prices they receive for the sale of wholesale beef, pork and lamb. Mandatory Price Reporting also requires USDA to issue daily, weekly and monthly livestock and meat market reports.

The legislation, passed earlier by the Senate, does not make Mandatory Price Reporting an ‘essential government service,’ so it’s vulnerable to government service interruptions, such as the shutdown that’s possible this week.

The bill passed on Monday, H.R. 2051, also reauthorizes the United States Grain Standards Act, and the National Forest Foundation Act.  The law has to be signed by the President prior to its expiration Wednesday.