U.S. Market News Reporting Program
Dr. Craig Morris
Deputy Administrator, Livestock,
Poultry, and Seed Program
Agricultural Marketing Service
U.S. Department of Agriculture
USDA Structure
AMS Structure
History of Market News
Market News
Mission
• Provide to the agricultural industry accurate and unbiased
marketing information depicting current conditions relating
to the trade of livestock, meat, wool, grain, and feedstuffs
that will promote orderly marketing and enhance
competition.
Authority
• The Agricultural Marketing Act of 1946
• Livestock Mandatory Reporting Act of 1999
• Mandatory Price Reporting Act of 2010
Methods of Price Reporting
Mandatory Price Reporting
Voluntary Price Reporting
• Livestock packers, processors, and
importers which meet size
thresholds are required to report
• Actively seek out information
from:
• Public Venues
• Information submitted electronically
at designated times
• Industry Contacts
• Reports are published within one
hour of submission
• Information is collected
throughout the supply chain
Markets Covered
Mandatory Price Reporting
Voluntary Price Reporting
Information Submitted:
Information Gathered:
• Poultry
• Grains
• Hay
• Feeder Cattle/Pigs
• Slaughter Cattle
• Feedstuffs
• Retail product
• Ethanol
• Dairy
• Fruits and Vegetables
• Cotton
•
•
•
•
•
•
Cattle
Beef
Swine
Pork
Lamb
Dairy
Voluntary Price Report
Collection Method
• Market News Reporter attends the
auction
• Records weight and price of livestock
sold
• Applies USDA livestock standards and
grades as well as other price
determining characteristics
Voluntary Price Report
Collection Method
• Market News Reporter calls established
Industry contacts for price information
• Evaluates the information received and
establishes a range
• Must receive information for a specific
commodity from at least 3 contacts in order
to publish
Mandatory: Who is required to Report
• 125,000 Cattle
Packers which
• 100,000 Swine
annually
slaughter at least: • 75,000 Lamb
Dairy's which
annually produce
or sell 1 million
pounds of:
•
•
•
•
Non-Fat Dry Milk
Cheddar Cheese
Butter
Dry Whey
Market Coverage For Mandatory
618
Swine Slaughter
Plants
645
Cattle Slaughter
Plants
519
Lamb Slaughter
Plants
50
41
7
Report Live Swine
Report Live Cattle
Report Live Sheep
• 94% of the Market
54
Report Wholesale Pork
• 87% of the Market
• 79% of the Market
44
Report Boxed Beef
• 93% of the Market
• 46% of the Market
15
Report Boxed Lamb
• 57% of the Market
Market Coverage For Mandatory
27
Cheddar Cheese
20
99
Dairy Manufacturers
Report
Butter
32
Nonfat Dry Milk
20
Dry Whey
34%
Market
Coverage
11%
Market
Coverage
62%
Market Coverage
44%
Market Coverage
Market Coverage For Voluntary
• 1%-80% depending on the Commodity
• Serves as a representation of the Market
For example:
Prior to Mandatory Price Reporting
• 2% of Wholesale Pork was Reported
Currently with Mandatory Price Reporting
• 87% of Wholesale Pork is Reported
Appropriations for the Program
Mandatory Price Reporting
• $35 Million total annually
16%
• 220 staff
• $6.4 Million specifically for
Mandatory Price Reporting
15%
69%
• 25 staff
Market Reporters
Information Technology
Compliance
Mandatory Price Report
Collection Method
• What Industry Submits
• What we Receive
LS118B_USDA_20040310123000.MPR
123CR,03/10/2004,3,TEST123CR,1,1,100,50.00,53.00
,,,,185,,,,
Mandatory Price Report
Compliance Verification
• On-site audits are completed at a
minimum of two times per year
• Audit reports are posted semiannually on our website
Market News
• Act as a service to the industry
• All reports are published and available to
the public at no cost
• Users of the information include:
Producers, Buyers, Brokers, Financial
Institutions, Exchange Markets,
Insurance Providers, and multiple
Government Agencies
Contact
Craig Morris
Deputy Administrator
Agricultural Marketing Service
Livestock, Poultry, and Seed Program
[email protected]