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USDA WEBINAR: New Livestock Mandatory Reporting
September 21, 2021 @ 4:00 pm - 5:00 pm
The U.S. Department of Agriculture (USDA) will host an educational webinar about USDA’s Livestock Mandatory Reporting (LMR) program and newly released cattle market information covering formula transactions and net price distribution on September 21, 2021, from 4:00 p.m. to 5:00 p.m. Central Time. The webinar is part of the ongoing cattle industry outreach conducted by the USDA Cattle and Carcass Training Centers (CCTCs). While anyone can attend the webinar, it is targeted to producers, feeders and other stakeholders who want a better understanding of LMR and how this information can inform real-world marketing decisions at the farm, feedlot and other points in the supply chain.
In this webinar, USDA Market News staff will provide an overview of the new Daily Direct Formula Base Cattle reports and the National Weekly Cattle Net Price Distribution report. As formula trades comprise a growing share of cattle purchases, this webinar will provide more clarity into price, volume and other characteristics of these transactions. USDA staff also will provide an overview of the new Grading Dashboard.
The Agriculture Improvement Act of 2018 (Farm Bill) directed USDA to establish the CCTCs in order to conduct activities that will limit subjectivity in the application of beef grading standards, provide producers with greater understanding of the value of their cattle, and provide investors more confidence in the cattle delivery system. USDA’s Agricultural Marketing Service (AMS) signed agreements in 2019 to establish the CCTCs at West Texas A&M University in Canyon, Tex.; Colorado State University in Fort Collins, Colo.; and at the USDA Agricultural Research Service’s U.S. Meat Animal Research Center in Clay Center, Neb.
Information about this webinar, including how to pre-register, is on the AMS website.