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The livestock mandatory price reporting system: Lamb industry perceptions and impact
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The livestock mandatory price reporting system was approved by Congress in July of 1999, signed into law on October 22, 1999, and launched on April 2, 2001. In announcing the implementation of the mandatory price reporting system, the USDA claimed that it would provide information on 80% to 95% of the volume of all cattle, boxed beef, slaughter hogs, sheep and lamb meat, and imported lamb meat transactions. The new law had three explicit objectives: (1) facilitate price discovery, (2) make livestock markets more open, and (3) provide all market participants with market information that can be easily understood (USDA 2001a). This study attempts to determine if the new mandatory price reporting system had achieved these objectives in the perspective of the sheep and lamb industry during the period of the study. Survey questionnaires were developed to determine the perceptions of lamb producers and feeders regarding the effect of the mandatory price reporting system on: (1) the price discovery process, (2) the openness and transparency of lamb buying and selling transactions in the market, and (3) the quantity, accuracy, availability, and timeliness of information needed to make production and marketing decisions. First, the cross-tabulation or descriptive categorical analysis provided the basis for an aggregate evaluation of the perceptions of the survey respondents. Second, a logit regression analysis based on the ordinal regression models was built to consider the relationship between the perceptions of the responding sheep and lamb producers and feeders regarding the new mandatory price reporting system and key characteristics of those respondents (such as age, gender, years of experience, size of operations, etc.). During the period of the study, most respondents believed that the new Mandatory Price Reporting Act has not facilitated or enhanced their power to negotiate prices. Although producers from bigger ranches and feeders from larger capacity ranches reported some improvement in the price discovery process, most respondents believed that packers and feeders were still manipulating the sheep and lambs markets. Neither producers nor feeders perceived any improvements in the availability and openness of private transactions. The mandatory livestock price reports about the sheep and lamb market prices are considered the least useful information source for majority of respondents, as well as the most difficult to understand. The most useful and understandable source is perceived to be the voluntary USDA market reports and other ranchers and feeders.
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Includes bibliographical references (leaves 111-114).
Issued also on microfiche from Lange Micrographics.
Poghosyan, Artak Vahagn (2002). The livestock mandatory price reporting system: Lamb industry perceptions and impact. Master's thesis, Texas A&M University. Available electronically from
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