§1635e Mandatory Reporting for Live Cattle

Summary

Create a public program that gives quick, accurate live cattle price and quantity information, so people can make better marketing choices and competition in the cattle slaughter industry is helped. Packers must separate domestic and imported cattle data. For packer-owned cattle, they must report how many and carcass traits, but not price. Corporate officers or their reps at each packer plant must report at least twice each reporting day, once by 10:00 a.m. Central Time and once by 2:00 p.m. Central Time. They must report prices per hundredweight by type of purchase, how many cattle were bought (live and dressed weight), estimated weight ranges, percent that were choice or better, any premiums or discounts for weight, grade, yield, or purchase type, how many cattle were delivered that day (by type and live/dressed), how many are committed to the packer (by type and live/dressed), and the terms of trade. The Department must publish this information to the public at least three times each reporting day. Each packer must also give a weekly report on the first reporting day of the week by 9:00 a.m. Central Time about the prior slaughter week. This includes numbers slaughtered from forward contracts and formula arrangements, packer-owned cattle slaughter numbers and carcass traits, details of forward contracts (quantity, basis level, delivery month), and expected premiums/discounts. For formula purchases they must give head and hundredweight counts, weighted average prices including premiums/discounts, ranges and weighted averages of premiums/discounts and prices, and terms of trade. The Department must publish these weekly results on the first reporting day of the current slaughter week by 10:00 a.m. Central Time. The Department must also decide if regional reporting is possible for fed Holsteins, other fed dairy steers and heifers, cows, and bulls, and report that decision to the House and Senate Agriculture Committees not later than 2 years after October 22, 1999.