This bill requires the Farm Service Agency to provide payments to producers that sold feeder cattle or live cattle during any month in calendar year 2020 to offset losses due to COVID-19 (i.e., coronavirus disease 2019).
Specifically, payments must be provided (1) in the case of feeder cattle, if the average national sale price per hundredweight for feeder cattle for that month is less than $150; and (2) in the case of live cattle, if the average national sale price per hundredweight for live cattle for that month is less than $121.
A producer may receive payments for not more than 10,000 head of cattle in calendar year 2020. Additionally, a producer must have owned the feeder cattle or live cattle for not less than 30 days before the date on which the cattle were sold.