The House Ag Committee has approved the Mandatory Price Reporting Act. It reauthorizes livestock mandatory price reporting which was set to expire the end of September. This is an essential tool for producers and packers to compete in an ever-evolving industry. Washington Lobbyist Chandler Keys with the Keys Group says it should easily pass through Congress.

The industry has asked for changes in how basis contracts in cattle and negotiated hogs are reported, as many of these sales are currently not reported under the present system.

House Ag Chair Mike Conaway says this is an important law for agriculture – promoting competition and certainty. He is pleased the committee found bipartisan consensus to put forth this strong bill.