,,ii  #aag? ,,congress  #a/ ,session    
,s4 #idi  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #bd1 #bjba,mr4    
,grassley 7= himself1 ,mr4 ,te/]1 ,mr4  
,hoev51 ,ms4 ,smi?1 ,ms4 ,ern/1 ,mr4    
,wyd51 ,mr4 ,r\nds1 ,mr4 ,book]1 & ,mr4 
,da9es7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,agriculture1 ,nutrition1 & ,=e/ry  ,a  
,,bill  ,to am5d ! ,agricultural ,m>ket+
 ,act ( #aidf to fo/] effici5t m>kets & 
increase competition & transp>5cy among 
pack]s t pur*ase live/ock f produc]s4   
#a4 ,spot m>ket pur*ases ( live/ock by  
pack]s ,*apt] #e ( subtitle ,b ( !      
,agricultural ,m>ket+ ,act ( #aidf 7#g  
,u4,s4,c4 #afcf et seq47 is am5d$-- 7#a7
 by r$esignat+ section #bfj 7#g         
,u4,s4,c4 #afcf;i7 z section #bfa2 &    
7#b7 by ins]t+ aft] section #bei !      
foll[+3  #bfj4 ,spot m>ket pur*ases (   
live/ock by pack]s  7a7 ,def9itions ,9  
?is section3 7#a7 ,cov]$ pack]  7,a7 ,9 
g5]al ,! t]m cov]$ pack] means a pack] t
 is requir$ "u ?is subtitle to report to

 ! ,secret>y ea* report+ day in=mation  
on ! price & quantity ( live/ock pur*as$
 by ! pack]4  7,b7 ,exclusion ,! t]m    
cov]$ pack] does n include a pack] t    
owns only #a live/ock process+ plant4   
7#b7 ,live/ock ,! t]m live/ock does n   
include-- 7,a7 pork2  7,b7 p\ltry2  7,c7
 a dairy-br$1 dairy-br$ cross1 or beef  
animal ov] #cj mon?s ( age2 or  7,d7 a  
=eign-born beef animal4  7#c7           
,nonaffiliat$ produc] ,! t]m            
nonaffiliat$ produc] means a produc] (  
live/ock-- 7,a7 t sells live/ock to a   
cov]$ pack]2 &  7,b7 7i7 t has less ?an 
#a p]c5t equity int]e/ 9 t cov]$ pack]2 
7ii7 9 :i* t cov]$ pack] has less ?an #a
 p]c5t equity int]e/2  7iii7 t has no   
(fic]s1 directors1 employees1 or own]s t
 are (fic]s1 directors1 employees1 or   
own]s ( t cov]$ pack]2 &  7iv7 t has no 
fiduci>y responsibility to t cov]$      
pack]4  7#d7 ,spot m>ket sale  7,a7 ,9  
g5]al ,! t]m spot m>ket sale means a    
pur*ase & sale ( live/ock by a cov]$    
pack] f a nonaffiliat$ produc]-- 7i7 "u 

an agreem5t t specifies a firm base     
price t may be equat$ ) a fix$ doll>    
am\nt on ! date on :i* ! agreem5t is    
ent]$ into2  7ii7 "u :i* ! live/ock are 
slaught]$ n m ?an #ad days aft] ! date  
on :i* ! agreem5t is ent]$ into2 &      
7iii7 "u :i* a reasonable competitive   
bidd+ opportunity exi/s on ! date on :i*
 ! agreem5t is ent]$ into1 z det]m9$ "u 
subp>agraph 7,b74  7,b7 ,reasonable     
competitive bidd+ opportunity ,= !      
purposes ( subp>agraph 7,a77iii71 a     
reasonable competitive bidd+ opportunity
 is consid]$ to exi/ if-- 7i7 no writt5 
or oral agreem5t precludes !            
nonaffiliat$ produc] f solicit+ or      
receiv+ bids f o!r cov]$ pack]s2 &  7ii7
 no circum/ance1 cu/om1 or practice     
exi/s t-- 7,i7 e/abli%es ! exi/5ce ( an 
impli$ contract 7z det]m9$ 9 accordance 
) ! ,uni=m ,comm]cial ,code72 &  7,,ii7 
precludes ! nonaffiliat$ produc] f      
solicit+ or receiv+ bids f o!r cov]$    
pack]s4  7b7 ,g5]al rule ,( ! quantity (
 live/ock t is slaught]$ by a cov]$     

pack] dur+ ea* report+ week 9 ea* plant1
 ! cov]$ pack] %all slaught] n less ?an 
#ej p]c5t ( ! quantity ?r\gh spot m>ket 
sales f nonaffiliat$ produc]s4  7c7     
,nonpreemption ,not)/&+ section #bei1   
?is section does n preempt any          
requirem5t ( a ,/ate or political       
subdivision ( a ,/ate t requires a cov]$
 pack] to pur*ase a great] p]c5tage (   
live/ock on ! spot m>ket ?an ! p]c5tage 
requir$ "u ?is section4  7d7            
,relation%ip to o!r provisions ,no?+ 9  
?is section affects ! int]pretation (   
any o!r provision ( ?is ,act1 includ+   
section #bjb4  4