Mandatory Price Reporting
What’s the Background?The hog market has changed dramatically over the years. MPR was promoted to improve market transparency and price discovery. Approved in 1999 as the Livestock Mandatory Reporting Act, MPR most recently was reauthorized in September 2015. Recent changes to the law have added prices for wholesale pork cuts, export sales data, a new “Negotiated Formula” category, and a requirement that hogs sold after a 1:30 p.m. reporting deadline be included in the next day’s price report.
Why Does It Matter to Our Producers?
Timely and accurate price information is important for a competitive pork market to function. Pork producers need a transparent national reporting system to make knowledge-based business decisions. MPR offers information about pricing, supply and demand conditions, and purchase contracting.