(a) EstablishmentThe Secretary shall establish a program of swine price information reporting that will—
(b) General reporting provisions applicable to packers and the Secretary
(1) In general
The Secretary shall establish and implement a price reporting program in accordance with this section that includes the reporting and publication of information required under this section.
(2) Packer-owned swine
Information required under this section for packer-owned swine shall include quantity and carcass characteristics, but not price.
(3) Packer-sold swineIf information regarding the type of purchase is required under this section, the information shall be reported according to the numbers and percentages of each type of purchase comprising—
(4) Additional information
(B) Outdated informationAfter public notice and an opportunity for comment, subject to subparagraph (C), the Secretary shall promulgate regulations that specify additional information that shall be reported under this section if the Secretary determines under the review under subparagraph (A) that—
(c) Daily reporting; barrows and gilts
(1) Prior day report
(A) In generalThe corporate officers or officially designated representatives of each packer processing plant that processes barrows or gilts shall report to the Secretary, for each business day of the packer, such information as the Secretary determines necessary and appropriate to—
(B) Reporting deadline and plants required to reportA packer required to report under subparagraph (A) shall—
(i)
not later than 7:00 a.m. Central Time on each reporting day, report information regarding all barrows and gilts purchased or priced, and
(ii)
not later than 9:00 a.m. Central Time on each reporting day, report information regarding all barrows and gilts slaughtered,
during the prior business day of the packer.
(C) Information requiredThe information from the prior business day of a packer required under this paragraph shall include—
(i) all purchase data, including—
(II)
the base price and purchase data for slaughtered barrows and gilts for which a price has been established;
(ii) all slaughter data for the total number of barrows and gilts slaughtered, including—
(I) information concerning the net price, which shall be equal to the total amount paid by a packer to a producer (including all premiums, less all discounts) per hundred pounds of carcass weight of barrows and gilts delivered at the plant—
(II) information concerning the average net price, which shall be equal to the quotient (stated per hundred pounds of carcass weight of barrows and gilts) obtained by dividing—
(aa)
the total amount paid for the barrows and gilts slaughtered at a packing plant during the applicable reporting period, including all premiums and discounts, and including any sum deducted from the price per hundredweight paid to a producer that reflects the repayment of a balance owed by the producer to the packer, or the accumulation of a balance to later be repaid by the packer to the producer, less all discounts; by
(V) the average carcass weight, which shall be equal to the quotient obtained by dividing—
(aa)
the total carcass weight of the barrows and gilts slaughtered at the packing plant during the applicable reporting period, by
adjusted for special slaughter situations (such as skinning or foot removal), as the Secretary determines necessary to render comparable carcass weights;
(VI)
the average sort loss, which shall be equal to the average discount (in dollars per hundred pounds carcass weight) for barrows and gilts slaughtered during the applicable reporting period, resulting from the fact that the barrows and gilts did not fall within the individual packer’s established carcass weight or lot variation range;
(VII)
the average backfat, which shall be equal to the average of the backfat thickness (in inches) measured between the third and fourth from the last ribs, 7 centimeters from the carcass split (or adjusted from the individual packer’s measurement to that reference point using an adjustment made by the Secretary) of the barrows and gilts slaughtered during the applicable reporting period;
(VIII)
the average lean percentage, which shall be equal to the average percentage of the carcass weight comprised of lean meat for the barrows and gilts slaughtered during the applicable reporting period, except that when a packer is required to report the average lean percentage under this subclause, the packer shall make available to the Secretary the underlying data, applicable methodology and formulae, and supporting materials used to determine the average lean percentage, which the Secretary may convert to the carcass measurements or lean percentage of the barrows and gilts of the individual packer to correlate to a common percent lean measurement; and
(IX)
the total slaughter quantity, which shall be equal to the total number of barrows and gilts slaughtered during the applicable reporting period, including all types of purchases and barrows and gilts that qualify as packer-owned swine; and
(D) Publication
(i) In generalThe Secretary shall publish the information obtained under this paragraph in a prior day report—
on the reporting day on which the information is received from the packer.
(ii) Price distributionsThe information published by the Secretary under clause (i) shall include—
(I)
a distribution of net prices in the range between and including the lowest net price and the highest net price reported;
(II)
a delineation of the number of barrows and gilts at each reported price level or, at the option of the Secretary, the number of barrows and gilts within each of a series of reasonable price bands within the range of prices; and
(III)
the total number and weighted average price of barrows and gilts purchased through negotiated purchases and negotiated formula purchases.
(2) Morning report
(A) In generalThe corporate officers or officially designated representatives of each packer processing plant that processes barrows or gilts shall report to the Secretary not later than 10:00 a.m. Central Time each reporting day—
(i)
the packer’s best estimate of the total number of barrows and gilts, and barrows and gilts that qualify as packer-owned swine, expected to be purchased throughout the reporting day through each type of purchase;
(ii)
the total number of barrows and gilts, and barrows and gilts that qualify as packer-owned swine, purchased up to that time of the reporting day through each type of purchase;
(iii)
the base price paid for all base market hogs purchased up to that time of the reporting day through negotiated purchases; and
(iv)
the base price paid for all base market hogs purchased through each type of purchase other than negotiated purchase up to that time of the reporting day, unless such information is unavailable due to pricing that is determined on a delayed basis.
(B) Publication
The Secretary shall publish the information obtained under this paragraph in the morning report as soon as practicable, but not later than 11:00 a.m. Central Time, on each reporting day.
(3) Afternoon report
(A) In generalThe corporate officers or officially designated representatives of each packer processing plant that processes barrows or gilts shall report to the Secretary not later than 2:00 p.m. Central Time each reporting day—
(i)
the packer’s best estimate of the total number of barrows and gilts, and barrows and gilts that qualify as packer-owned swine, expected to be purchased throughout the reporting day through each type of purchase;
(ii)
the total number of barrows and gilts, and barrows and gilts that qualify as packer-owned swine, purchased up to that time of the reporting day through each type of purchase;
(iii)
the base price paid for all base market hogs purchased up to that time of the reporting day through negotiated purchases; and
(iv)
the base price paid for all base market hogs purchased up to that time of the reporting day through each type of purchase other than negotiated purchase, unless such information is unavailable due to pricing that is determined on a delayed basis.
(B) Publication
The Secretary shall publish the information obtained under this paragraph in the afternoon report as soon as practicable, but not later than 3:00 p.m. Central Time, on each reporting day.
(C) Late in the day report information
The Secretary shall include in the morning report and the afternoon report for the following day any information required to be reported under subparagraph (A) that is obtained after the time of the reporting day specified in that subparagraph.
(d) Daily reporting; sows and boars
(1) Prior day reportThe corporate officers or officially designated representatives of each packer of sows and boars shall report to the Secretary, for each business day of the packer, such information reported by hog class as the Secretary determines necessary and appropriate to—
(3) Information requiredThe information from the prior business day of a packer required under this subsection shall include all purchase data, including—
(A)
the total number of sows purchased and the total number of boars purchased, each divided into at least three reasonable and meaningful weight classes specified by the Secretary;
(H)
the number of sows and the number of boars for which prices are determined, by each type of purchase;
(I)
the average prices for sows and the average prices for boars for which prices are determined, by each type of purchase; and
(4) Price calculations without packer-owned swine
A packer shall omit the prices of sows and boars that qualify as packer-owned swine from all average price calculations, price range calculations, and reports required by this subsection.
(6) Publication
The Secretary shall publish the information obtained under this paragraph in a prior day report not later than 11:00 a.m. Central Time on the reporting day on which the information is received from the packer.
(7) Electronic submission of information
The Secretary of Agriculture shall provide for the electronic submission of any information required to be reported under this subsection through an Internet website or equivalent electronic means maintained by the Department of Agriculture.
(e) Weekly noncarcass merit premium report
(1) In generalNot later than 4:00 p.m. Central Time on the first reporting day of each week, the corporate officers or officially designated representatives of each packer processing plant shall report to the Secretary a noncarcass merit premium report that lists—
(A)
each category of standard noncarcass merit premiums used by the packer in the prior slaughter week; and
(2) Premium list
A packer shall maintain and make available to a producer, on request, a current listing of the dollar values (per hundred pounds of carcass weight) of each noncarcass merit premium used by the packer during the current or the prior slaughter week.
(3) Availability
A packer shall not be required to pay a listed noncarcass merit premium to a producer that meets the requirements for the premium if the need for swine in a given category is filled at a particular point in time.
(4) Publication
The Secretary shall publish the information obtained under this subsection as soon as practicable, but not later than 5:00 p.m. Central Time, on the first reporting day of each week.
(Aug. 14, 1946, ch. 966, title II, § 232, as added Pub. L. 106–78, title IX, § 911(2), Oct. 22, 1999, 113 Stat. 1195; amended Pub. L. 109–296, §§ 3, 4, Oct. 5, 2006, 120 Stat. 1465, 1468; Pub. L. 114–54, title I, § 102(b), Sept. 30, 2015, 129 Stat. 514.)