The mandatory dairy price reporting announced as final rule today by the United States Department of Agriculture is fully supported by the National Milk Producers Federation.
“The rule reflects the changes that NMPF has pushed USDA to adopt,” says Chris Galen, NMPF spokesperson. “It’s nearly unchanged from the proposed rule issued last July, and does several things that NMPF has supported:
• It completes the move of dairy product price reporting from the National Agricultural Statistics Service to the Agricultural Marketing Service. AMS staff is more familiar with the reporting plants and their operations, and so are better equipped to integrate data collection and audit.
• It makes reporting completely web-based, which will speed the data collection process.
• It moves up the plant reporting deadline each week from noon (local time) on Wednesday to noon (local time) on Tuesday, with some adjustments when Monday or Tuesday falls on a holiday.\
• It moves up USDA’s normal publication deadline each week from 8:30 a.m. ET on Friday to 3:00 p.m. ET on Wednesday, again with possible adjustment for holidays.
• Beginning April 18, Federal order price announcements will also move from Friday to 3:00 p.m. ET on Wednesday, allowing about 40% of Class price announcements to be based on more current data than they are now.”
Dairy processors, represented by the International Dairy Foods Association (IDFA), were also supportive of the change. "IDFA is very supportive of moving the collection and publication of dairy product price data from NASS to AMS. When implemented, the process outlined in the final rule will improve the timeliness of data used in Federal Order price formuals," says Bob Yonkers, IDFA's chief economist.
Galen says the the last Dairy Product Prices report will be issued by NASS for the last time on Friday, March 30. The following week, on Wednesday, April 4, it will be issued by AMS for the first time.