The U.S. Department of Agriculture’s Agricultural Marketing Service (AMS) last week launched a new electronic data platform to deliver market price information for farm commodities. The Market Analysis and Reporting Services, or MARS, platform opened last Friday with Market News information for dairy products as the first set of available data and reports.
According to USDA, the MARS platform is designed to improve the transparency, speed and accuracy of the Market News and facilitate the flow of data from more than 3,600 markets to AMS analysts and, ultimately, to producers, industry stakeholders and the general public. The MARS platform offers users a searchable database with the ability to create custom reports, data sets and data graphics that present large amounts of information in formats that are easy to understand.
Dairy Market News covers the supply, demand and price situation every week on a regional, national and international basis for milk, butter, cheese, and dry and fluid products. Producers, processors and other agricultural businesses can use the information in Market News to evaluate market conditions, identify trends, make purchasing decisions, monitor price patterns, evaluate transportation equipment needs and assess movement.
USDA expects to launch Market News for other commodities throughout the year and complete the data transfer by March 2019.
USDA’s existing Market News website will continue to post data until all commodities are available on the new platform.
To learn more about MARS, members may listen to a recording of the AMS overview webinar or visit the new My Market News web portal on the AMS website.
For more information, members may contact Dave Carlin, IDFA senior vice president of legislative affairs and economic policy, at dcarlin@idfa.org.