USDA Launching Market News Reports based on Livestock Mandatory Reporting
Late last week, the USDA announced two new Market News Reports based on Livestock Mandatory Reporting data. The reports will provide additional insight into formula cattle trades and help promote fair and competitive markets, and stems from a recent executive order on competition. USDA will release the first new report, the National Daily Direct Formula Base Cattle, August 9th, and the second report, the National Weekly Cattle Net Price Distribution, on August 10th.
The National Daily Direct Formula Base Cattle reports will enable producers to see the correlation between the negotiated trade and reported formula base prices. The weekly and monthly formula base reports will be both national and regional in scope and include forward contract base purchase information. The National Weekly Cattle Net Price Distribution report will show at what levels, price and volume, trade occurred across the weekly weighted average price for each purchase type – negotiated, negotiated grid, formula and forward contract.
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