,,ii #aagth ,,congress #ast ,session ,s4 #edc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #b 7legislative day1 ,march #a71 #bjba,mrs4 ,fischer 7for herself1 ,mr4 ,wyden1 ,mrs4 ,hyde-,smith1 and ,mr4 ,braun7 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 #bjba 4 #b4 ,cattle contract library 7a7 ,in general ,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 #ad days after the date on which the agreement for purchase is made4 7#i7 ,packer ,the term packer has the meaning given the term in section #bba of the ,agricultural ,marketing ,act of #aidf 7#g ,u4,s4,c4 #afce;d74 7#aj7 ,producer ,the term producer means a person engaged 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 7b7 ,conforming amendment ,section #bja of the ,packers and ,stockyards ,act1 #aiba 7#g ,u4,s4,c4 #aia71 is amended by striking ,when used in this ,act and inserting ,unless specified otherwise1 in this ,act14 #c4 ,cash market acquisition of cattle 7a7 ,sense of the ,senate ,it is the sense of the ,senate that all participants in the fed cattle market have a responsibility to contribute to regionally sufficient levels of negotiated trade of fed cattle in all cattle feeding regions in order to achieve robust price discovery4 7b7 ,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 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 fed 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 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 fed 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#c7 ,packer 7,a7 ,in general ,the term packer has the meaning given the term in section #bba of the ,agricultural ,marketing ,act of #aidf 7#g ,u4,s4,c4 #afce;d74 7,b7 ,exclusion ,the term packer does not include a packer that slaughters cattle at only #a livestock processing plant4 7#d7 ,producer ,the term producer means a person engaged in the business of selling cattle to a packer for slaughter4 7#e7 ,regional mandatory minimum ,the term regional mandatory minimum means1 for each reporting region 7as designated by the ,agricultural ,marketing ,service71 of the number of transactions and quantity of cattle purchased for slaughter by a packer in that region each slaughter week1 the minimum number of such transactions and the minimum percentage of such cattle1 respectively1 that are 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 #b years after the date of enactment of this subtitle1 the ,secretary1 in consultation with the ,chief ,economist1 shall establish-- 7#a7 regional mandatory minimums for the purpose of enhancing price discovery and transparency for cattle market participants2 and 7#b7 methods for establishing those regional mandatory minimums1 which shall be publicly available4 7b7 ,public input ,in carrying out subsection 7a71 the ,secretary shall make all proposed regional mandatory minimums and proposed methods for establishing those minimums subject to a notice and comment period4 7c7 ,duration ,regional mandatory minimums established for each reporting region under subsection 7a77#a7-- 7#a7 may be weekly or on another periodic basis1 as determined by the ,secretary2 and 7#b7 shall be applicable for not more than a #bd-month period4 7d7 ,considerations ,in carrying out subsection 7a7 for each reporting region1 the ,secretary1 in consultation with the ,chief ,economist1 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 7#d7 ,the number of pricing transactions 7pens of cattle sold7 in the reporting region4 7e7 ,initial requirement ,the initial regional mandatory minimums established for each reporting region under subsection 7a77#a7 shall be not less than the average percentage of negotiated purchases and negotiated grid purchases in that region from the #c previous calendar years4 7f7 ,biannual review ,on establishing regional mandatory minimums under subsection 7a77#a71 the ,secretary-- 7#a7 shall review the regional mandatory minimums not less frequently than once every #b years2 and 7#b7 may1 in consultation with the ,chief ,economist1 modify the regional mandatory minimums after-- 7,a7 making the proposed modification subject to a notice and comment period2 and 7,b7 consulting with representatives of the ,united ,states cattle and beef industry4 7g7 ,enforcement ,on establishing regional mandatory minimums under subsection 7a77#a71 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 7h7 ,cost-,benefit analysis ,not later than #c years after establishing regional mandatory minimums under subsection 7a77#a71 the ,secretary1 in consultation with the ,chief ,economist1 shall conduct a quantifiable1 data-driven cost-benefit analysis regarding the operation and effect of those regional mandatory minimums4 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 ,mandatory reporting for live cattle ,section #bbb7;c7 of the ,agricultural ,marketing ,act of #aidf 7#g ,u4,s4,c4 #afce;e7c77 is amended-- 7#a7 in paragraph 7#a7-- 7,a7 by striking subparagraphs 7,b7 and 7,c72 and 7,b7 by redesignating subparagraph 7,d7 as subparagraph 7,b72 7#b7 by redesignating paragraph 7#b7 as paragraph 7#c72 and 7#c7 by inserting after paragraph 7#a7 the following3 7#b7 ,prior day reporting 7,a7 ,in general ,the corporate officers or officially designated representatives of each packer processing plant shall report to the ,secretary1 for each business day of the packer processing plant1 not later than #aj3jj a4m4 ,central ,time on each reporting day1 the information from the prior business day described in subparagraph 7,b74 7,b7 ,information required ,the information required under subparagraph 7,a7 shall be1 with respect to the prior business day1 the number of cattle1 organized by cattle type1 scheduled for delivery to a packer processing plant 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