USDA's Market News has confirmed that the re-implementation Mandatory Livestock Price Reporting (MPR) will take several more months. Despite the prior regulation, due to the time-lapse caused by congressional delays, USDA must start again from scratch.
Reimplementation steps include conducting an economic impact, clearance through various channels of USDA and OMB, and then propose the rules in the Federal Register for comment (most of the rules will be unchanged). Comments must then be analyzed before issuing a final regulation. In the meantime, voluntary reporting will continue.
The legislation was re-authorized through 2010, so if it takes until late 2007 to get the new rule in place the actual life of MPR will be only three years.
-- Clint Peck