The US Department of Agriculture (USDA) is set to implement a new rule that will require mandatory wholesale pork reporting.
The rule requires packers to submit the price of each sale, quantity, and other characteristics (such as type of sale, item description, and destination) that AMS will use to produce market reports that will be disseminated to the public.
AMS Livestock and Seed Program deputy administrator Craig Morris said that implementing the mandatory wholesale pork reporting program provides market participants with considerably more market information than they have had in the past.
"Further, a mandatory wholesale pork reporting program will ensure that accurate, unbiased market information is available to all market participants, ultimately benefitting consumers through improved price discovery in the sector," Morris added.
Notice of the final rule will be published in the 22 August 2012 Federal Register. The program will be effective on 7 January 2013. As soon as practical after the final rule has been published, AMS will hold a training session to assist packers in meeting the requirements of the mandatory pork reporting program.
