H.R. 1287 · 118th Congress
Cattle Price Discovery and Transparency Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FeenstraSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Department of Agriculture (USDA) to take various actions to address transparency in contract terms and pricing in the cattle industry.
What it does: CRS summary · Introduced in House · Mar 1, 2023
Cattle Price Discovery and Transparency Act of 2023
This bill requires the Department of Agriculture (USDA) to take various actions to address transparency in contract terms and pricing in the cattle industry.
Among these requirements, USDA must maintain a publicly available library or catalog of contracts entered into between meat packers and livestock producers for the purchase of cattle, including any schedules of premiums or discounts associated with the contracts and other specific details. USDA must make this information available to producers and other interested parties in a monthly report.
The bill further requires USDA to establish five to seven regions encompassing the entire continental United States that reasonably reflect similar fed cattle purchase practices for processing plants and establish mandatory minimums for each region (i.e., the minimum percentage of cattle purchases that are required to be made through approved pricing mechanisms from producers that are not packers).
Under the bill, approved pricing mechanisms are generally purchases of fed cattle made through a negotiated purchase, through a negotiated grid purchase, at a stockyard, or through trading systems or platforms where multiple buyers and sellers can regularly make and accept bids and offers.
The bill also establishes a maximum penalty for mandatory minimum violations by covered packers. Under the bill, a covered packer is a packer that has slaughtered an average of 5% or more of the number of fed cattle slaughtered nationally during the immediately preceding five calendar years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Cattle Price Discovery and Transparency Act of 2023
Latest action (Apr 4, 2023): Referred to the Subcommittee on Livestock, Dairy, and Poultry.
Policy area: Agriculture and Food · Origin: House · Introduced: Mar 1, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.