The American Dairy Products Institute (ADPI) announced a new initiative to promote the use of electronic reporting of pricing information to USDA’s Dairy Market News (DMN). This reporting, on a weekly basis, will supplement the information which DMN collects through telephone surveys of industry contacts for the purpose of producing weekly dairy commodity reports.
Initially, ADPI will provide industry contacts with a Whey Protein Concentrate (WPC) 34% report form. Following successful implementation of electronic reporting of WPC, other product reporting forms will be made available to the industry over the next several weeks.
USDA has confirmed in writing to ADPI that electronic data and comments submitted to AMS-Market News will remain strictly confidential and "receives the same protection as all statistical data submitted to USDA." USDA also states that multiple laws and regulations protect data used in DMN publications, including exemptions in the Freedom of Information Act (FOIA) which insures that proprietary information submitted to the AMS-Market News is protected. View USDA Letter Regarding Confidentiality of Proprietary Information
An ADPI-led industry task force has been working with DMN over the past year to increase the reliability of price reporting.
"We believe that if the industry will voluntarily email or fax their weekly transactions to DMN instead of waiting for a phone call, it will help improve the accuracy of the DMN reports,” said Dave Thomas, ADPI CEO. Using electronic means of capturing data will not only allow the industry to more conveniently and consistently report prices on a weekly basis, but will also increase the number of data points available to DMN, resulting in a more accurate estimation of the average market price."
ADPI has developed a form that can be used by the industry for this weekly report. Once completed, the form can be emailed or faxed to the DMN offices prior to 8 a.m. (Central) each Thursday for consideration in that week's Dairy Market News. According to Thomas, "the intention is not to replace the weekly phone call from DMN, which will continue to provide reporters with not only pricing information but also important commentary regarding market conditions."
Those who wish to obtain copies of the report forms should contact ADPI: email@example.com or 630-530-8700. Download WPC Reporting Form (Microsoft Excel Format)