Captive Supply Reform Act
Last action on Nov 8, 2005Referred to the House Committee on Agriculture.
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Summary
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.
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