USDA finalizes swine price reporting changes

USDA’s Agricultural Marketing Service announced a final rule amending swine and lamb reporting provisions related to the reauthorization of the Livestock Mandatory Price Reporting program.  The final rule, which becomes effective on Oct. 11, amends two swine reporting requirements and one lamb reporting requirement.  For swine, packers are required to report purchases on a negotiated formula basis as a separate purchase category. Second, packers must report all barrow and gilt purchases made after 1:30 p.m. Central time in their morning submission on the next reporting day.