The U.S. Department of Agriculture’s Chief Economist Joseph W. Glauber announced that USDA is reviewing release times for several major statistical reports due to recent changes in market hours by major commodity exchanges.
The National Agricultural Statistics Service (NASS) and the World Agricultural Outlook Board (WAOB)—the USDA entities responsible for the reports—will seek public comment on the release times and procedures of their key statistical reports. In the coming weeks, USDA expects to publish a notice in the Federal Register advising the public of the comment period. USDA is reviewing release times of the following statistical reports: World Agricultural Supply and Demand Estimates, Acreage, Cattle, Cattle on Feed, Crop Production, Grain Stocks, Prospective Plantings, Quarterly Hogs and Pigs, and Small Grain Summary. The current USDA release times of 8:30 a.m. and 3:00 p.m. ET will remain in effect until further notice.
“It is important that USDA continue to ensure the integrity of its report release process, particularly as global exchanges move closer to 24-hour trading,” said Glauber. “To this end, USDA is reviewing our procedures and will solicit public input to determine the needs of those who use our data.”