Captive Supply Reform Act - Amends the Packers and Stockyards Act, 1921 respecting livestock producer-packer forward contracts to: (1) require the inclusion of fixed dollar amount base pricing and public bidding; (2) prohibit formula pricing; (3) limit individual contract size; and (4) exclude from the definition of "formula price" futures-based prices and base adjustments resulting from factors outside packer control.
Actions
May 13, 2003
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
May 13, 2003
Sponsor introductory remarks on measure. (CR S6078-6081)