Market information and data is collected throughout the course of the live auction, as the reporter will grade the livestock and record the pertinent information in the reporting tool. Information that the reporter must record for each lot includes the official USDA grade, weight, head count, and selling price. To ensure the accuracy of these reports, each Market Reporter is required to take a written test and apply their skills during an official live animal grading correlation with their supervisor every two years.

Market information and data is collected from a wide network of elevators, warehouses, processors, and mills across the reporting region. The means of data collection is accomplished through telecommunication, emails, and review of company websites. Primary contacts are visited minimum once a year to ensure the accuracy of the information being submitted. Two-party verification is utilized when needed on all price information declared as a “Trade.”

The Utilization of Producer Milk in Class II Products is the monthly volume of milk used to produce Class II Fluid Milk products. The Class II Utilization Percentage of Producer Milk is the monthly volume of Class II Milk used to produce Class II products in each individual order divided by the monthly total of all producer milk pooled for that individual order for all classes. The Butterfat Test of Producer Milk Used in Class II Products is the percentage of butterfat found in Class II milk for each order for each month. The Nonfat Solids Test of Producer Milk Used in Class II Products is the percentage of nonfat solids found in the Class II milk for each order for each month.

The Utilization of Producer Milk in Class I Products is the monthly volume of milk used to produce Class I Fluid Milk products. The Class I Utilization Percentage of Producer Milk is the monthly volume of Class I Milk used to produce Class I products in each individual order divided by the monthly total of all producer milk pooled for that individual order for all classes. The Butterfat Test of Producer Milk Used in Class I Products is the percentage of butterfat found in Class I milk for each order for each month. The Nonfat Solids Test of Producer Milk Used in Class I Products is the percentage of nonfat solids found in the Class I milk for each order for each month.