USDA Hosting LMR Webinars
The USDA will host a series of three webinars about the Livestock Mandatory Reporting (LMR) program on three consecutive days in June. The free webinars will begin on Tuesday, June 8, and continue through Thursday, June 10, and will be held from 6:00 p.m. to 7:30 p.m. CDT.
The webinars are targeted to cattle producers and others involved in the U.S. cattle and beef industries who want a better understanding of LMR reports, although anyone can register. The speakers, including representatives from the USDA Market News, an economist from Colorado State University, and beef industry professionals, will discuss the LMR reports, highlight the details and valuable data found in the reports, and provide examples of how the data may be applied to facilitate marketing decisions and mitigate risk. For more information on the webinars and to register, go to: https://www.ams.usda.gov/event/lmr-live-cattle-beef-webinar.
The Livestock Market Reporting Act, passed in 1999, established a program to provide information on the marketing of cattle, swine, lamb, and the products of such livestock.
Federally inspected packing plants which annually slaughter or process an average of 125,000 cattle or more are required to report the details of all transactions involving purchases of cattle and domestic and export sales of boxed beef. The USDA Agricultural Marketing Service (AMS) reviews over 5,000 cattle transactions and 15,000 beef transactions daily. AMS publishes 24 daily and 19 weekly cattle reports and 6 daily and 11 weekly beef reports. AMS estimates that LMR reports cover approximately 78 percent of the cattle market transactions. The LMR is up for reauthorization in Congress this year.