Analysis of USDA Mandatory Hog Price Data
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The USDA Mandatory Price Reporting System Price Data Reports started in 2001 as part of the Livestock Reporting Act of 1999. Each weekday USDA releases three reports on negotiated hog prices which are named after their release times. The first report, called the Morning Report, covers hogs purchased by packers between midnight and 9:30 a.m. The second report, called the Afternoon Report, covers hogs purchased between midnight and 1:30 p.m. The third report, called the Prior Day Report, covers hogs purchased by packers between midnight and midnight. These reports cover about 90% of the federally inspected hog slaughter. This analysis summarizes reports for 2002, 2003, 2004, and 2005.