The Livestock Mandatory Price Reporting (LMR) Program was established to expand pricing information available in the livestock industry. Part of USDA Market News data, the information is distributed by the Agricultural Marketing Service (AMS) and allows analysts to dive in head first and fulfill all of their number crunching ambitions.
The purpose of the program is to provide marketing information for cattle, swine, lamb, and livestock products that can be readily understood and utilized by producers. Livestock Mandatory Reporting encourages competition in the marketplace by vastly improving price and supply data, bringing transparency, breadth and depth to market reporting. The program gets its authority through the Livestock Mandatory Reporting Act of 1999, which must be reauthorized by Congress every five years. The program is up for reauthorization in September 2015.
Thousands of business transactions every day rest on the outcome of Livestock Mandatory Reporting data. From the small farmer looking to market a few head of cattle to the giant packer looking to increase their profits, USDA Market News is an invaluable resource.
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