(a) EstablishmentThe Secretary shall establish a program of live cattle price information reporting that will—
(b) General reporting provisions applicable to packers and the Secretary
(1) In generalWhenever the prices or quantities of cattle are required to be reported or published under this section, the prices or quantities shall be categorized so as to clearly delineate—
(2) Packer-owned cattle
Information required under this section for packer-owned cattle shall include quantity and carcass characteristics, but not price.
(c) Daily reporting
(1) In generalThe corporate officers or officially designated representatives of each packer processing plant shall report to the Secretary at least twice each reporting day (including once not later than 10:00 a.m. Central Time and once not later than 2:00 p.m. Central Time) the following information for each cattle type:
(A) The prices for cattle (per hundredweight) established on that day, categorized by—
(v)
an estimate of the percentage of the cattle purchased that were of a quality grade of choice or better; and
(B) The quantity of cattle delivered to the packer (quoted in numbers of head) on that day, categorized by—
(C) The quantity of cattle committed to the packer (quoted in numbers of head) as of that day, categorized by—
(2) Publication
The Secretary shall make the information available to the public not less frequently than three times each reporting day.
(d) Weekly reporting
(1) In generalThe corporate officers or officially designated representatives of each packer processing plant shall report to the Secretary, on the first reporting day of each week, not later than 9:00 a.m. Central Time, the following information applicable to the prior slaughter week:
(D)
The quantity, basis level, and delivery month for all cattle purchased through forward contracts that were agreed to by the parties.
(E)
The range and average of intended premiums and discounts that are expected to be in effect for the current slaughter week.
(2) Formula purchasesThe corporate officers or officially designated representatives of each packer processing plant shall report to the Secretary, on the first reporting day of each week, not later than 9:00 a.m. Central Time, the following information for cattle purchased through a formula marketing arrangement and slaughtered during the prior slaughter week:
(3) Publication
The Secretary shall make available to the public the information obtained under paragraphs (1) and (2) on the first reporting day of the current slaughter week, not later than 10:00 a.m. Central Time.
(Aug. 14, 1946, ch. 966, title II, § 222, as added Pub. L. 106–78, title IX, § 911(2), Oct. 22, 1999, 113 Stat. 1191.)