Official Summary

3/28/2007--Introduced.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 cont

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Official Summary

3/28/2007--Introduced.
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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