By Julie Tomascik
Editor
The U.S. Department of Agriculture (USDA) will host a series of three live educational webinars about the agency’s livestock mandatory reporting program over three consecutive days in June.
The webinars will be held June 8-10.
Representatives from USDA’s Agricultural Marketing Service and Colorado State University will cover live cattle and boxed beef reports and how to use these marketing tools. A panel of guest speakers representing a diverse cross-section of the U.S. cattle feeding sector will share how they use the reports to implement risk management practices in their operations and to facilitate marketing live cattle.
The webinars are part of USDA’s ongoing outreach to the cattle industry conducted by its Cattle and Carcass Training Centers. They are targeted to cattle producers, feeders and others in the U.S. beef supply chain who want a better understanding of the reports, which provide the entire supply chain with critical market intelligence on price trends, as well as supply and demand conditions.
The Zoom webinar series is free and open to the public, but pre-registration is required.
Click here to register for the series.
Part I: Utilizing Livestock Mandatory Reporting Live Cattle Reports
Tuesday, June 8
6-7 p.m. CDT
Presenters: Charlie Potts of USDA’s Agricultural Marketing Service and Dr. Stephen R. Koontz of Colorado State University’s Department of Agricultural and Resource Economics.
Description: Learn about livestock mandatory reporting and get answers to the most frequently asked questions USDA receives regarding these reports. Viewers will get a look at the various elements of these reports and examine the differences between the types of reports used in the cattle industry. The presenters will explore how USDA live cattle reports are used to manage price risks associated with domestic production.
View the speaker bios
Part II: USDA Livestock Mandatory Reporting Boxed Beef Reports – How Quality Grade Impacts Value
Wednesday, June 9
6-7 p.m. CDT
Presenters: Chris Sommers of USDA’s Agricultural Marketing Service and Dr. Stephen R. Koontz of Colorado State University’s Department of Agricultural and Resource Economics
Description: Explore the fundamentals of the USDA box beef cutout value reports and the factors which influence these reports. The presenters will explain concepts related to price differences between the various USDA grades of wholesale beef cuts. They will also dive into specific elements of the reports, such as the “Choice/Select spread” and other elements that can be used to make more informed production and marketing decisions.
View the speaker bios
Part III: Using Livestock Mandatory Reporting in the Real World: An Industry Panel
Thursday, June 10
6-7 p.m. CDT
Presenters: Spencer Prosser of MP Agrilytics; David Trowbridge of Gregory Feedlots; and Jordan Levi of Arcadia Asset Management
Description: Hear from a panel of U.S. beef industry peers how they leverage the data in USDA’s livestock mandatory reporting cattle reports to support decision-making and manage risk, from the perspectives of a large feedlot company, a mid-sized cattle feeder enterprise and a cow-calf operation. This session will conclude with a live question and answer session with the three panelists and speakers from Parts I and II of this webinar series.
View the speaker bios
Click here for more information on the webinars from USDA.
Pardon my ignorance
What is the Mandatory Reporting Rule and how does it affect the small beef producer?
It is a USDA regulation that requires cattle, swine and lamb packers report price and quantity of these livestock species on a routine basis. This allows all producers, big and small, access to current market prices and supplies for harvest ready livestock. The ultimate goal is to give anyone in the livestock market the opportunity to use this information to make informed marketing/business decision. These webinars are meant to help people better understand how to make good use of the reported information.
What is the Mandatory Reporting Rule and how does it affect the small beef producer?
Hello JD – It is a USDA regulation that requires cattle, swine and lamb packers report price and quantity of these livestock species on a routine basis. This allows all producers, big and small, access to current market prices and supplies for harvest ready livestock. The ultimate goal is to give anyone in the livestock market the opportunity to use this information to make informed marketing/business decision. These webinars are meant to help people better understand how to make good use of the reported information.
What is the Mandatory Reporting Rule and how does it affect the small beef producer?
Hi.
It is a USDA regulation that requires cattle, swine and lamb packers report price and quantity of these livestock species on a routine basis. This allows all producers, big and small, access to current market prices and supplies for harvest ready livestock. The ultimate goal is to give anyone in the livestock market the opportunity to use this information to make informed marketing/business decision. These webinars are meant to help people better understand how to make good use of the reported information.
Too little, Too late
Mandatory for who? Clarify your statement/Title.
As the writer, you make it seem as if, this is some legal requirement for even a person with one cow.
Hi, George. USDA’s Livestock Mandatory Reporting program, also known as LMR, is not mandatory for cattle producers. Livestock Mandatory Reporting was developed to facilitate open, transparent price discovery and provide all market participants, both large and small, with comparable levels of market information for slaughter cattle, swine, sheep, boxed beef, lamb meat, and wholesale pork.
This is a webinar series to help cow-calf producers better understand how to use the LMR reports for marketing finished cattle. It is not a “legal requirement” for anyone with one cow to participate.
You can learn more about Livestock Mandatory Reporting from USDA at https://www.ams.usda.gov/rules-regulations/mmr/lmr.