Sec. 2. Definitions
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/bill/117/s/4030/rs/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 212 of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1635a ) is amended— in paragraph (5), by striking cattle, and inserting cattle (including fed cattle), ; by redesignating paragraphs
(1)through
(14)as paragraphs (2), (3), (4),
(6)through (8), (10), and
(12)through (18), respectively; by inserting before paragraph
(2)(as so redesignated) the following: The term approved pricing mechanism means a purchase of fed cattle made— through a negotiated purchase; through a negotiated grid purchase; at a stockyard (as defined in section 302 of the Packers and Stockyards Act, 1921 ( 7 U.S.C. 202 )); or through a trading system or platform for the purchase or sale of cattle, or for an arrangement to purchase or sell cattle, through any means in which multiple buyer and seller participants have the ability to, and regularly and consistently, make and accept bids and offers on or at the trading system or platform. ; by inserting after paragraph
(4)(as so redesignated) the following: The term fed cattle means a steer or heifer that has been finished on a ration of roughage and feed concentrates, such as grains, protein meal, grass (forage), and other nutrient-rich feeds, prior to slaughter. ; by inserting after paragraph
(8)(as so redesignated) the following: The term mandatory minimum means, of the quantity of fed cattle purchased for slaughter by a covered packer (as defined in section 221) for each processing plant, the minimum percentage of such cattle that are required to be purchased through approved pricing mechanisms from producers that are not packers. ; and by inserting after paragraph
(10)(as so redesignated) the following: The term negotiated grid purchase , with respect to cattle, means a purchase— involving the negotiation of a base price from which premiums are added and discounts are subtracted, determined by seller-buyer interaction and agreement on a delivery day; and under which the cattle are scheduled for delivery to the packer not later than 14 days after the date on which the cattle are committed to the packer. . Section 221 of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1635d ) is amended— in paragraph (1), by striking 7-day and inserting 14-day ; in paragraph (8)(B), by striking market and inserting marketing ; by redesignating paragraphs (3), (4), (5), (6), (7), and
(8)as paragraphs (5), (6), (8), (9), (11), and (12), respectively; by inserting after paragraph
(2)the following: The term covered contract means any agreement, written or oral, between a packer and a producer for the purchase of fed cattle for slaughter. The term covered contract does not include a contract for a negotiated purchase. The term covered packer means a packer that has slaughtered during the immediately preceding 5 calendar years an average of not less than 5 percent of the number of fed cattle slaughtered nationally during the immediately preceding 5 calendar years. ; by inserting after paragraph
(6)(as so redesignated) the following: The term heifer means a bovine female that has not given birth to a calf. ; and by inserting after paragraph
(9)(as so redesignated) the following: The term ‘steer’ means a bovine male castrated before reaching sexual maturity. .
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