Sec. 6. Cattle contract library
689 words·~3 min read·
/bill/117/hr/5992/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Chapter 2 of subtitle B of the Agricultural Marketing Act of 1946 is amended— by redesignating section 223 ( 7 U.S.C. 1635f ) as section 224; and by inserting after section 222 ( 7 U.S.C. 1635e ) the following: Subject to the availability of appropriations to carry out this section, the Secretary shall establish and maintain, through the Livestock Mandatory Price Reporting program, 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 (including cattle that are purchased or committed for delivery), including any schedules of premiums or discounts associated with the contract.
To maintain the library or catalog established under subsection (a), 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 packer. Information submitted to the Secretary by a packer under paragraph
(1)shall include, with respect to each existing contract of a packer— the type of contract; the duration of the contract; a summary of the contract terms; provisions in the contract that may affect the price of cattle covered by the contract, including schedules, premiums and discounts, and transportation arrangements; the total number of cattle covered by the contract solely committed to the packer each week within the 6-month and 12-month periods following the date of the contract, organized by reporting region; in the case of a contract in which a specific number of cattle are not solely committed to the packer— an indication that the contract is an open commitment; and any weekly, monthly, annual, or other limitations on the number of cattle that may be delivered to the packer under the contract; and 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 6-month and 12-month periods following the date of the contract. The Secretary shall make publicly available to producers and other interested persons information (including the information described in subsection (b)(2)), in a user-friendly format, on the types of contracts in the library or catalog established under subsection (a), including notice (on a real-time basis, if practicable) of the types of contracts that are being offered by packers to, and are open to acceptance by, producers for the purchase of fed cattle. Beginning 30 days after the library or catalog is established under subsection (a), the Secretary shall make the information obtained each month in the library or catalog available in a monthly report to producers and other interested persons. The monthly report described in subparagraph
(A)shall include— based on the information collected under subsection (b)(2)(E), an estimate by the Secretary of the total number of fed cattle committed under contracts for delivery to packers within the 6-month and 12-month periods following the date of the report, organized by reporting region and type of contract; based on the information collected under subsection (b)(2)(F), the number of contracts with an open commitment and any weekly, monthly, annual, or other limitations on the number of cattle that may be delivered under such contracts; and based on the information collected under subsection (b)(2)(G), an estimate by the Secretary of the total maximum number of fed cattle that may be delivered within the 6-month and 12-month periods following the date of the report, organized by reporting region and type of contract. Information in the library or catalog established under subsection
(a)about types of contracts that are no longer offered or in use shall be removed from the library or catalog. The reporting requirements for packers under this section shall be subject to the confidentiality protections provided under section 251. It shall be unlawful and a violation of this Act for any packer to willfully fail or refuse— to provide to the Secretary accurate information required under this section; or to comply with any other requirement of this section. There are authorized to be appropriated to the Secretary such sums as are necessary to carry out this section. .
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources