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Increased Competition and Transparency in Livestock Purchase Markets

New regulations aim to boost fair competition and transparency in the market for purchasing livestock from producers. This means large processing plants will be required to buy a significant portion of their livestock on the open market, potentially impacting prices and income stability for farmers. The goal is to ensure farmers have more opportunities to sell their animals at fair prices.
Key points
Large processing plants (excluding those with only one plant) must purchase at least 50% of their livestock (excluding pork, poultry, older cattle, and foreign-born cattle) through spot market sales.
Spot market sales involve transactions with non-affiliated producers where a firm base price is set, slaughter occurs within 14 days, and the producer has a reasonable opportunity to receive bids from other buyers.
State laws can require packers to purchase an even higher percentage of livestock on the spot market than mandated by this federal act.
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Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_949
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2021-03-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Agricultural Marketing Act of 1946 to foster efficient markets and increase competition and transparency among packers that purchase livestock from producers.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_949.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-24.

What are the main provisions?

Key points include:

  • Large processing plants (excluding those with only one plant) must purchase at least 50% of their livestock (excluding pork, poultry, older cattle, and foreign-born cattle) through spot market sales.
  • Spot market sales involve transactions with non-affiliated producers where a firm base price is set, slaughter occurs within 14 days, and the producer has a reasonable opportunity to receive bids from other buyers.
  • State laws can require packers to purchase an even higher percentage of livestock on the spot market than mandated by this federal act.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Agriculture Economy