§1635e Mandatory reporting for live cattle

Summary

Requires the Secretary to create a live cattle price-reporting program that gives timely, accurate market information, helps people make better marketing choices, and supports competition in the slaughtering industry. Packers must report twice each reporting day, once by 10:00 a.m. Central Time and once by 2:00 p.m. Central Time. Reports must show prices per hundredweight by type of purchase, quantities bought on a live- and dressed-weight basis, estimated weight ranges, an estimate of how much was grade choice or better, any premiums or discounts (for weight, grade, yield, or purchase type), numbers of cattle delivered and committed (by purchase type and weight basis), and terms of trade. Information about packer-owned cattle must include quantity and carcass traits but not price. The Secretary must publish the reported data to the public at least three times each reporting day. On the first reporting day each week, by 9:00 a.m. Central Time, packers must report prior-week slaughter details: cattle slaughtered from forward contracts, from formula marketing arrangements, and packer-owned cattle (with carcass traits); forward contract quantities, basis levels, and delivery months; and the range and average of expected premiums and discounts. For formula-arranged cattle, weekly reports must include counts, weights, weighted average prices with premiums/discounts, ranges, and aggregate weighted averages. The Secretary must publish those weekly figures by 10:00 a.m. Central Time on the first reporting day of the current slaughter week. The Secretary must also check whether regional data can be gathered for fed Holsteins, other dairy steers and heifers, cows, and bulls and report that finding to the House and Senate Agriculture Committees not later than 2 years after October 22, 1999.