,,ii  #aafth ,,congress  #b;d ,session  
,s4 #dfdg  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #bb1
 #bjbj,mrs4 ,fischer introduced the     
following bill2 which was read twice and
 referred to the ,committee on          
,agriculture1 ,nutrition1 and ,forestry 
,a ,,bill  ,to amend the ,packers and   
,stockyards ,act1 #aiba1 to establish a 
cattle contract library1 and for other  
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,cattle ,market     
,transparency ,act of #bjbj4  #b4       
,cattle contract library ,title ,,ii of 
the ,packers and ,stockyards ,act1      
#aiba1 is amended by inserting after    
section #bbc 7#g ,u4,s4,c4 #aih;b7 the  
following3  ,c ,cattle contracts  #bca4 
,definitions ,in this subtitle3 7#a7    
,base price ,the term base price means  
the price paid for cattle delivered to a
 packer1 before application of any      
premiums or discounts1 expressed in     
dollars per hundred pounds of carcass   
weight4  7#b7 ,contract  7,a7 ,in       

general ,subject to subparagraph 7,b71  
the term contract means any agreement1  
written or oral1 between a packer and a 
producer for the purchase of fed cattle 
for slaughter4  7,b7 ,exclusion ,the    
term contract does not include a        
contract for a negotiated purchase4     
7#c7 ,fed cattle ,the term fed cattle   
means a steer or heifer that has been   
finished on a ration of roughage and    
feed concentrates1 such as grains1      
protein meal1 grass 7forage71 and other 
nutrient-rich feeds1 prior to slaughter4
  7#d7 ,formula marketing arrangement   
,the term formula marketing arrangement 
means the advance commitment of cattle  
for slaughter-- 7,a7 by any means other 
than through a negotiated purchase1     
negotiated grid purchase1 or forward    
contract2 and  7,b7 using a method for  
calculating price-- 7i7 under which the 
price is determined at a future date2   
7ii7 the basis of which is a price      
established for a specified market1     
which may be based on any publicly      

reported price1 including plant average 
price1 regional price1 downstream price1
 or some other mutually agreeable price 
source2 and  7iii7 that may include a   
grid or nongrid price4  7#e7 ,forward   
contract ,the term forward contract     
means-- 7,a7 an agreement for the       
purchase of fed cattle1 executed in     
advance of slaughter1 under which the   
base price is established by reference  
to-- 7i7 prices quoted on the ,chicago  
,mercantile ,exchange2 or  7ii7 other   
comparable publicly available prices2 or
  7,b7 any other contract for the       
purchase of fed cattle1 executed in     
advance of slaughter1 as determined by  
the ,secretary4  7#f7 ,heifer ,the term 
heifer means a bovine female that has   
not given birth to a calf4  7#g7        
,negotiated grid purchase ,the term     
negotiated grid purchase means a        
purchase of fed cattle by a packer from 
a producer under which-- 7,a7 the       
buyer-seller interaction results in a   
negotiated base price1 which may be     

adjusted by premiums and discounts2 and 
7,b7 the cattle are scheduled for       
delivery to the packer not more than #ad
 days after the date on which the       
agreement for purchase is made4  7#h7   
,negotiated purchase ,the term          
negotiated purchase means a purchase of 
fed cattle 7commonly known as a cash or 
spot market purchase7 by a packer from a
 producer under which-- 7,a7 the        
buyer-seller interaction that results in
 the purchase and the agreement on the  
actual base price for the purchase occur
 on the same day2 and  7,b7 the cattle  
are scheduled for delivery to the packer
 not more than #cj days after the date  
on which the agreement for purchase is  
made4  7#i7 ,packer ,the term packer1   
with respect to a contract1 means a     
packer that slaughters cattle at #a or  
more federally inspected processing     
plants1 each of which-- 7,a7 slaughters 
an average of not less than #abe1jjj    
head of cattle per year during the #e   
calendar years immediately preceding the

 date on which the contract is executed2
 or  7,b7 has not slaughtered cattle    
during those immediately preceding #e   
calendar years but has the capacity to  
slaughter not less than #abe1jjj head of
 cattle per year1 as determined by the  
,secretary4  7#aj7 ,producer ,the term  
producer means a person engaged1        
directly or through an intermediary1 in 
the business of selling cattle to a     
packer for slaughter4  7#aa7 ,steer ,the
 term steer means a bovine male         
castrated before reaching sexual        
maturity4  7#ab7 ,type of contract  7,a7
 ,in general ,the term type of contract 
means the classification of a contract  
for the purchase of cattle-- 7i7 into #a
 of the categories described in         
subparagraph 7,b72 and  7ii7 by         
determining the base price of the       
cattle4  7,b7 ,categories ,the          
categories for classification of a type 
of contract are the following3 7i7      
,formula marketing arrangement4  7ii7   
,forward contract4  7iii7 ,negotiated   

grid purchase contract4  #bcb4 ,cattle  
contract library  7a7 ,in general       
,subject to the availability of         
appropriations to carry out this        
section1 the ,secretary shall establish 
and maintain a library or catalog of    
each type of contract offered by packers
 to producers for the purchase of all or
 part of the production of the producers
 of fed cattle 7including cattle that   
are purchased or committed for          
delivery71 including any schedules of   
premiums or discounts associated with   
the contract4  7b7 ,information         
collection  7#a7 ,in general ,to        
maintain the library or catalog         
established under subsection 7a71 the   
,secretary shall obtain information from
 each packer on each type of existing   
contract of the packer by requiring a   
filing or other form of information     
submission from each packer4  7#b7      
,contracted cattle numbers ,information 
that shall be submitted to the          
,secretary by a packer under paragraph  

7#a7 shall include1 with respect to each
 existing contract of a packer-- 7,a7   
the type of contract2 and  7,b7 a       
description of the provisions in the    
contract that provide for expansion in  
the numbers of fed cattle to be         
delivered under the contract for the    
#f-month and #ab-month periods following
 the date of the contract4  7c7         
,availability of information  7#a7 ,in  
general ,the ,secretary shall make      
available to producers and other        
interested persons information on the   
types of contracts in the library or    
catalog established under subsection    
7a71 including notice 7on a real-time   
basis1 if practicable7 of the types of  
contracts that are being offered by     
packers to1 and are open to acceptance  
by1 producers for the purchase of fed   
cattle4  7#b7 ,monthly report  7,a7 ,in 
general ,beginning #cj days after the   
library or catalog is established under 
subsection 7a71 the ,secretary shall    
make the information obtained each month

 in the library or catalog available in 
a monthly report to producers and other 
interested persons4  7,b7 ,contents ,the
 monthly report described in            
subparagraph 7,a7 shall include-- 7i7 an
 estimate by the ,secretary of the total
 number of fed cattle committed under   
contracts for delivery to packers within
 the #f-month and #ab-month periods     
following the date of the report1       
organized by reporting region and type  
of contract2 and  7ii7 an estimate by   
the ,secretary of the total maximum     
number of fed cattle that may be        
delivered within the #f-month and       
#ab-month periods following the date of 
the report1 based on the provisions     
described in subsection 7c77#b77;,b7 in 
existing contracts1 organized by        
reporting region and type of contract4  
7d7 ,maintenance of library or catalog  
,information in the library or catalog  
established under subsection 7a7 about  
types of contracts that are no longer   
offered or in use shall be removed from 

the library or catalog4  7e7            
,confidentiality ,the reporting         
requirements for packers under this     
section shall be subject to the         
confidentiality protections provided    
under section #bea of the ,agricultural 
,marketing ,act of #aidf 7#g ,u4,s4,c4  
#afcf74  7f7 ,violations ,it shall be   
unlawful and a violation of this ,act   
for any packer to willfully fail or     
refuse-- 7#a7 to provide to the         
,secretary accurate information required
 under this section2 or  7#b7 to comply 
with any other requirement of this      
section4  7g7 ,authorization of         
appropriations ,there are authorized to 
be appropriated to the ,secretary such  
sums as are necessary to carry out this 
section4  4  #c4 ,cash market           
acquisition of cattle ,title ,,ii of the
 ,packers and ,stockyards ,act1 #aiba   
7#g ,u4,s4,c4 #aia et seq47 7as amended 
by section #b71 is amended by adding at 
the end the following3  ,d ,cash market 
acquisition of cattle  #bda4            

,definitions ,in this subtitle3 7#a7    
,negotiated grid purchase ,the term     
negotiated grid purchase means a        
purchase of cattle by a packer from a   
producer under which-- 7,a7 the         
buyer-seller interaction results in a   
negotiated base price1 which may be     
adjusted by premiums and discounts2 and 
7,b7 the cattle are scheduled for       
delivery to the packer not more than #ad
 days after the date on which the       
agreement for purchase is made4  7#b7   
,negotiated purchase ,the term          
negotiated purchase means a purchase of 
cattle 7commonly known as a cash or spot
 market purchase7 by a packer from a    
producer under which-- 7,a7 the         
buyer-seller interaction that results in
 the purchase and the agreement on the  
actual base price for the purchase occur
 on the same day2 and  7,b7 the cattle  
are scheduled for delivery to the packer
 not more than #cj days after the date  
on which the agreement for purchase is  
made4  7#c7 ,packer ,the term packer    

does not include a packer that owns only
 #a livestock processing plant4  7#d7   
,producer ,the term producer has the    
meaning given the term in section #bab  
of the ,agricultural ,marketing ,act of 
#aidf 7#g ,u4,s4,c4 #afce;a74  7#e7     
,regional mandatory minimum ,the term   
regional mandatory minimum means1 for   
each reporting region 7as designated by 
the ,agricultural ,marketing ,service71 
of the quantity of cattle purchased for 
slaughter by a packer in that region    
each slaughter week1 the minimum        
percentage of such cattle that is       
required to be purchased through        
negotiated purchases or negotiated grid 
purchases from producers4  7#f7         
,slaughter week ,the term slaughter week
 has the meaning given the term current 
slaughter week in section #bab of the   
,agricultural ,marketing ,act of #aidf  
7#g ,u4,s4,c4 #afce;a74  #bdb4 ,regional
 mandatory minimums  7a7 ,in general    
,not later than #a year after the date  
of enactment of this subtitle1 the      

,secretary shall establish regional     
mandatory minimums for the purpose of   
enhancing price discovery and           
transparency for cattle market          
participants4  7b7 ,public input ,in    
carrying out subsection 7a71 the        
,secretary shall make each proposed     
regional mandatory minimum subject to a 
notice and comment period4  7c7         
,considerations ,in carrying out        
subsection 7a7 for each reporting       
region1 the ,secretary shall consider   
the following factors3 7#a7 ,the number 
of packers in the reporting region4     
7#b7 ,the availability of cattle in the 
reporting region4  7#c7 ,pre-existing   
contractual arrangements of packers in  
the reporting region4  7d7 ,enforcement 
,on establishing regional mandatory     
minimums under subsection 7a71 the      
,secretary shall-- 7#a7 regularly       
monitor compliance by packers with those
 regional mandatory minimums2 and  7#b7 
enforce this section in accordance with 
section #bjc4  4  #d4 #ad-;day cattle   

slaughter  7a7 ,definition of cattle    
committed ,section #bba7a7 of the       
,agricultural ,marketing ,act of #aidf  
7#g ,u4,s4,c4 #afce;d7#a77 is amended by
 striking #g-;day and inserting         
#ad-;day4  7b7 ,daily reporting ,section
 #bbb7;c77#a7 of the ,agricultural      
,marketing ,act of #aidf 7#g ,u4,s4,c4  
#afce;e7c77#a77 is amended by adding at 
the end the following3  7,e7 ,packer    
purchase commitments1 which shall be    
equal to the number of cattle1 organized
 by cattle type1 scheduled for delivery 
to a packer for slaughter for each of   
the next #ad calendar days4  4  #e4     
,public availability of information     
,section #bea7;a7 of the ,agricultural  
,marketing ,act of #aidf 7#g ,u4,s4,c4  
#afcf7;a77 is amended-- 7#a7 by         
redesignating paragraphs 7#a7 and 7#b7  
as subparagraphs 7,a7 and 7,b71         
respectively1 and indenting             
appropriately2  7#b7 in the matter      
preceding subparagraph 7,a7 7as so      
redesignated71 by striking ,the         

,secretary shall make available to the  
public information and inserting the    
following3  7#a7 ,in general ,the       
,secretary shall make available to the  
public all information  2 and  7#c7 by  
adding at the end the following3  7#b7  
,effect ,nothing in this section permits
 the ,secretary1 or any officer or      
employee of the ,secretary1 to withhold 
from the public the information1        
statistics1 and documents described in  
paragraph 7#a74  4