WASHINGTON (B)--The Senate approved June 29 an additional $1.35 million to ensure proper implementation of a livestock price-reporting measure passed by Congress last fall.
According to Sen. Chuck Grassley, R-IA, the additional money was needed because United States Department of Agriculture "had underestimated by more then $1 million the cost of running the mandatory price reporting program."
Total funding for the livestock price-reporting program for fiscal 2000 is about $6 million. The program is expected to start later this year.
Congress passed the livestock price reporting law last year following concerns that concentration in the meatpacking and slaughtering industries might allow companies that buy cattle, hogs and sheep to unfairly and uncompetitively set prices.