Price Reporting and Disclosure
In recent years livestock producers, particularly small ones, have been at a competitive disadvantage vis-a-vis large meatpackers because so many market transactions were unreported. Cash market transactions, which the USDA uses to establish market prices, have been drastically reduced in recent years, replaced by contracts and special arrangements. Without open reporting, fair market prices cannot be established and price discrimination (link) is difficult to prove. In 1998-99, states took matters into their own hands and passed legislation that would require packers to reveal the price they pay whenever they purchase livestock… Read More