Nebraska’s Senator Ben Nelson, a member of the Senate Agriculture Committee, joined several senate colleagues Tuesday in introducing bipartisan legislation to reauthorize Livestock Mandatory Price Reporting for five years and establish similar systems for pork cuts and dairy products. The bill would guarantee transparency and help improve producers’ ability to access fair market prices.

“This bill brings certainty and transparency so that producers are paid fair prices for the livestock they raise,” said Senator Nelson. “Without tools like mandatory price reporting, producers face uncertainty trying to find clear pricing information for their livestock. This bill will help continue a program that has wide support from producers across Nebraska.”

Nebraska agriculture producers welcomed Senator Nelson’s support for the bill.

“We commend Senator Nelson’s support of bipartisan legislation of a five year reauthorization of mandatory price reporting,” said Nebraska Pork Producers Association’s President-Elect Dave Harrington. “Each of our individual businesses need transparency in order to make intelligent, conscious planning and marketing decisions.”

“Nebraska Farm Bureau strongly supports extending the Mandatory Price Reporting law for livestock sales another five years,” said Keith Olsen, President of Nebraska Farm Bureau. “The law has made market activity more transparent for Nebraska livestock producers, by providing them with information about prices, contracts, and supply and demand conditions. This information has helped them to take better advantage of market opportunities. It’s important that livestock price reporting continue.”

“Mandatory Price Reporting is one important tool to insure that cattle producers have access to accurate and timely information that will allow them to make informed short-term and long-term marketing decisions,” said Michael Kelsey, Executive Vice President of Nebraska Cattlemen.

The legislation extends reporting requirements of livestock daily markets for five years. Additionally, the bill includes requirements for Mandatory Reporting of Wholesale Pork cuts in order to expand transparency to the pork industry and further protect producers. The bill also instructs the Secretary of Agriculture to establish within one year an electronic price reporting system to publish the prices of dairy products. Published reports will be required on a weekly and monthly basis. The all-milk price reporting system, currently in place, would remain unchanged.

Organizations in support of the legislation include the Nebraska Farm Bureau, Nebraska Farmers Union, Nebraska Cattlemen, Nebraska Pork Producers, American Farm Bureau Federation, American Meat Institute, American Sheep Industry Association, National Cattlemen’s Beef Association, National Farmers Union, National Pork Producers Council, National Meat Association and the United States Cattleman’s Association.