31B.07 Price and contract reports. 

    Subdivision 1.    Daily price reports.  (a) At the close 
 of each business day on which a packer purchased or received on 
 contract livestock for slaughter, the packer must report to the 
 United States Department of Agriculture, Agricultural Marketing 
 Service, and the commissioner of agriculture all prices paid for 
 livestock under contract and through cash market sales during 
 that business day, including: 

    (1) the amount of the base price and a description of the 
 formula used to establish that base price; 

    (2) a description of the types and amount of any premiums 
 or discounts including but not limited to quality 
 characteristics, grade and yield, volume, early delivery, 
 percent lean, and transportation or acquisition cost savings to 
 the packer; and 

    (3) the basis on which payment was made including 
 live-weight, carcass weight, or value in the meat.  

    (b) The commissioner shall make information reported by 
 packers available to the public, through an electronic medium, 
 on the day succeeding the day covered by the packer's report.  
 The disclosure of information reported by the commissioner may 
 be made only in a form that ensures that: 

    (1) the identity of the parties involved in any transaction 
 described in a report is not disclosed; 

    (2) the identity of the packer submitting a report is not 
 disclosed; and 

    (3) the confidentiality of proprietary business information 
 is otherwise protected. 

    Subd. 2.    Quarterly reports; commissioner publication of 
 terms and price.  (a) A packer that acquires livestock for 
 slaughter under contract with one or more producers shall, 
 within ten business days after the close of each calendar 
 quarter, provide a report to the commissioner.  The report must 
 include copies of each type of marketing agreement, contract, 
 and joint venture agreement used by the packer to procure 
 slaughter livestock from producers during the previous calendar 
 quarter. 

    (b) Not later than 15 business days after packers have 
 provided reports required under paragraph (a), the commissioner 
 shall release to the agricultural press and other interested 
 parties a summary report of the contract terms and prices 
 offered by packers to producers during the previous calendar 
 quarter.  

    Subd. 3.    Expiration.  The reporting provisions of 
 this section expire 30 days after a department or agency of the 
 federal government has a price reporting requirement at least as 
 comprehensive as this section. 

    HIST: 1999 c 231 s 66