Seldom are observed losing bids available in industry data. A special workshop of the Fed Cattle Market Simulator was designed to capture bids for each pen of cattle traded. Data enabled identifying buyer and seller behavior in the price discovery process, both before and after imposed mergers...

Federal government funding for public price reporting began in 1914. Since then, most public market reporting for livestock and meat has relied on voluntary participation by market participants. Populist support in 1999 led to passage of the Livestock Mandatory Reporting Act which replaced the...