Livestock, Dairy, and Poultry Outlook No. (LDPM-13501) 46 pp

September 2005

Did the Mandatory Requirement Aid the Market? Impact of the Livestock Mandatory Reporting Act

This study focuses on fed cattle markets to compare the mandatory price reporting system developed by USDA's Agricultural Marketing Service in 2001 with the previous voluntary reporting system. The study also evaluates whether the mandatory system has improved the amount and quality of information available to the market. Results show that mandatory reporting has given the market additional information about prices for different kinds of sales transactions. The trend toward formula purchases has slowed since mandatory price reporting was implemented, and the volume of cattle moving under negotiated purchases has increased.

Keywords: Price reporting, mandatory price reporting, negotiated prices, cash markets, packers, meat packers, livestock, cattle, fed cattle

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