Daschle Expects Money for Livestock Price Reporting

November 18, 1999

Senate Democratic Leader Tom Daschle (SD) expects Congress will authorize USDA to use $4.7 million to implement livestock price reporting. The money will come from unspent funds, says Daschle.

USDA will be authorized to use $4.7 million in unspent funds to enforce then new law, says Daschle. Because of an oversight, he adds, the funding was not included when the law was approved in October.

"This action completes our efforts to enact the strongest possible price reporting legislation on the federal level," says Daschle. "I am very pleased at what we have achieved." It is expected the provision will become part of an omnibus budget bill on which Congress and the White House have been working. An agreement was reached late Wednesday on the $390 billion budget bill, and a vote in the House is expected today.

The new law requires daily reporting of all sales transactions, including formula contracts, of live cattle, live hogs and boxed beef. It also includes a provision authorizing USDA to develop a similar policy for lambs.