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Amending Livestock Mandatory Price Reporting Act of 1999

Floor Speech

By:
Date:
Location: Washington, DC

Mr. GOODLATTE. Mr. Speaker, I move to suspend the rules and pass the Senate bill (S. 2965) to amend the Livestock Mandatory Price Reporting Act of 1999 to modify the termination date for mandatory price reporting.

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Mr. GOODLATTE. Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of this legislation, which extends an important program until September 30, 2005.
As many of my colleagues know, authorization for the U.S. Department of Agriculture's Mandatory Price Reporting Program, which was passed in the 1999 agriculture appropriation, expired on October 23. This program requires USDA to operate a mandatory price reporting system for beef, pork and lamb, which provides useful information for everyone engaged in the buying and selling of these products.

In the absence of authority to enforce mandatory reporting, the USDA has contacted the companies to encourage them to continue reporting data during the gap in program authorization. It is my understanding that everyone has been cooperating. This is because they recognize the important role this data plays in price discovery and in the operation of marketing agreements.

There is also a clear agreement that the current program should be extended for an additional year to provide livestock producers, the packer community and other interested parties additional time to identify and agree upon these technical improvements to the law.

The administration has recently written to the leadership of the House and Senate in support of this simple 1-year extension. In order to extend mandatory price reporting in a timely manner, we need to act today.

Mr. Speaker, I urge the adoption of this measure.

Mr. Speaker, I reserve the balance of my time.

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Mr. GOODLATTE. Mr. Speaker, I urge my colleagues to adopt this important legislation to extend this program for a year.

Mr. Speaker, I have no further requests for time, and I yield back the balance of my time.

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