USDA reports suspended due to government shutdown - leatherbiz: Leadin Leatherbiz

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USDA reports suspended due to government shutdown

07/10/2013
The US government shutdown has caused the Department of Agriculture (USDA) to suspend its market reports, which the agricultural industry relies on to price everything from hogs and cattle to soybeans and corn.

Daily USDA market data is used by meat packers to determine how much they pay livestock producers for their cattle and hogs. The Chicago Mercantile Exchange counts on government livestock values to calculate the final price for its lean hog and feeder cattle futures contracts at expiration.

US meat packers including Tyson Foods have had to seek alternative sources of data from private companies to determine the prices they pay for hogs.

The government partially closed offices from October 1 – the first time in 17 years – after the two houses of Congress failed to agree a new budget.







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