Livestock Marketing Fairness Act

referredUnited States· United States Congress· EN

Introduced

25 July 2011

Last action

10 August 2011 · Referred

Status

Referred to the Subcommittee on Livestock, Dairy, and Poultry.

Summary

Livestock Marketing Fairness Act - Amends the Packers and Stockyards Act, 1921 to prohibit a livestock sale forward contract (with an exception for specified cooperatives) that: (1) does not contain a firm base price that may be equated to a fixed dollar amount on the contract day; (2) is not offered for open public bid; (3) is based on a formula price; or (4) provides for the sale of more than 40 cattle, 30 swine, or other livestock in a quantity as determined by the Secretary of Agriculture (USDA). Defines: (1) "firm base price" as a transaction using an external source reference price; (2) "formula price" as any price term that establishes a base from which a purchase price is calculated on the basis of a price that will not be determined or reported until a date after the forward price is established (with specified exclusions); and (3) "forward contract" as a livestock purchase contract that provides for livestock delivery to a packer at a date that is more than seven days after the date on which the contract is entered into, without regard to whether the contract is for a specified lot of livestock or a specified number of livestock over a certain period of time.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

25 July 2011
Introduced
Referred to the House Committee on Agriculture.
Source: IntroReferral
25 July 2011
Introduced
Introduced in House
Source: IntroReferral
25 July 2011
Introduced
Introduced in House
Source: IntroReferral
10 August 2011
Referred
Referred to the Subcommittee on Livestock, Dairy, and Poultry.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in House · 25 July 2011 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 25 July 2011
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Introduced in House (PDF)
Introduced in House · EN · 25 July 2011
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Introduced in House
summary · EN · 25 July 2011
Open at official source
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Related records

related to ← Livestock Marketing Fairness Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/112th-congress/house-bill/2631
Open data entity: https://api.congress.gov/v3/bill/112/hr/2631
us · 112-hr-2631 · source updated 5 December 2025