US SB3693 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on May 12 2020 - 25% progression, died in committee
Action: 2020-05-12 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (Sponsor introductory remarks on measure: CR S2380-2381)
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Establishes that a minimum of 50% of a covered packer's daily volume of livestock slaughter must be purchased through spot market sales from nonaffiliated producers. (The term covered packer applies to a packer that is required to report to the Department of Agriculture each reporting day information on the price and quantity of livestock purchased by such packer and does not include a packer that owns only one livestock processing plant.) A spot market sale is a purchase and sale of livestock by a packer from a producer under (1) an agreement that specifies a firm base price that may be equated with a fixed dollar amount on the date the agreement is entered into, (2) which the livestock are slaughtered not more than 14 days after the date on which the agreement is entered into, and (3) circumstances in which a reasonable competitive bidding opportunity exists on the date on which the agreement is entered into.

Tracking Information

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Title

A bill to amend the Agricultural Marketing Act of 1946 to foster efficient markets and increase competition and transparency among packers that purchase livestock from producers.

Sponsors


History

DateChamberAction
2020-05-12SenateRead twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (Sponsor introductory remarks on measure: CR S2380-2381)

Same As/Similar To

HB7501 (Same As) 2020-09-03 - Referred to the Subcommittee on Livestock and Foreign Agriculture.

Subjects


US Congress State Sources


Bill Comments

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