"The President will ask for mandatory price reporting on livestock very soon," Glickman said in a speech to lawmakers.

Mandatory price reporting has become a high-priority issue for US pork and cattle producers, who claim they do not always get fair prices for their animals because the large slaughter houses use private contracts.

It is estimated that four companies control nearly 80 per cent of the US beef market and the same number of firms control 57 per cent of the US pork market.

Last year, livestock groups lobbied for expanded price reporting but Congress agreed only to a one-year study with the provision that none of the data be publicly released, a move that many said voided the whole proposal.

Mandatory price reporting bills have been introduced in the House and in theSenate this year. Industry groups have said they think momentum is picking up in favour of enacting the legislation soon.