NPPC last week submitted comments on a proposed rule from the U.S. Department of Agriculture’s Agricultural Marketing Services (AMS) on Livestock Mandatory Price Reporting.
The proposed rule contains two specific revisions that were championed by NPPC, its producer members and other affected segments of the U.S. pork industry.
The new negotiated formula purchase category provides market participants with more specific information about buyer and seller interactions and better represents the market in which producers function.
Including late-day hog purchases in the following day’s reports better represents the subsequent day’s market conditions and increases the volume of barrows and gilts shown in daily morning and afternoon purchase reports.
Overall, the changes represent a positive step forward in allowing information to flow throughout the marketplace and among participants.