Because funding for Agriculture Marketing Service reports has been suspended during the U.S. government shutdown, Tyson Fresh Meats is offering options to hog producers that use formula-based pricing to calculate pricing for their market hogs. Tyson's changes in methods used to calculate prices are effective October 7.
According to Tyson Foods Public Relations Manager Worth Sparkman, one of alternative will be to use data from Urner Barry - a U.S. analytical research firm closely followed by the industry for its meat prices and data -- to calculate prices. However, if producers do not wish to use that data, they may elect to negotiate pricing for market hogs.
Once the Agriculture Marketing Service resumes its marketing reports, Sparkman said, the company will revert back to using that pricing method.