Livestock price reporting progresses

Livestock price reporting progresses The law requiring daily price reporting by packers, order buyers and others dealing in livestock purchased for slaughter has been in effect since July 1, operating under interim rules. The program is working much as expected, according to Darrell Cruea, secretary of the South Dakota Department of Agriculture.

"The reports are coming in to our office daily, just as the law requires," said Cruea. "The businesses impacted by this law are making every effort to comply with the regulation, and they are working with us to make the system run as smoothly as possible as it continues to evolve."

The program is being administered under interim rules, pending finalization of the rules. A rules hearing was held Aug. 6 to accept comments on the draft rules, and written comments were accepted for 10 days following the hearing. After taking the comments into consideration, final rules will be adopted by the department, submitted to the Legislative Research Council, and filed with the Secretary of State. The process should be complete by mid-October.

Cruea praised the industry. He said, " I appreciate the input from the producers and the processors on the price reporting issue. South Dakota is the first state in the nation to require price reporting, so we have the opportunity to set the tone for the rest of the nation. Neighboring states are watching carefully and using some of our procedures to implement price reporting in their states. This price information will give our producers another tool to use when making livestock marketing decisions. In today's economy, marketing can mean the difference between profit and loss in production agriculture.

A draft of interim rules can be found on the S.D. Department of Agriculture's website at www.state.sd.us./doa/doa.html. The rules can also be requested by calling 1-800-228-5254 or writing the South Dakota Department of Agriculture, 523 E. Capitol Avenue, Pierre, SD 57501-3182.

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