Because of the significant investment in the mandatory price reporting program (MPR) by the USDA and by packers, it is important to understand what producers believe about its effectiveness. This study reports results from a survey of feedyards located primarily in Kansas, Nebraska, Texas, and Iowa. Results indicate a diversity of opinion regarding MPR effectiveness. On average producers are neutral to negative regarding the value of MPR to them. Interestingly, feedlot characteristics appear to have little systematic relationship to the manager's perceptions regarding the usefulness of MPR.