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Congress approves livestock marketing bill
A bill to modernize the Packers & Stockyards Act of 1921 is headed to the President’s desk for signature.
The Clarification of Treatment of Electronic Sales of Livestock Act ensures farmers and ranchers selling through online or video livestock auctions are provided similar protections to those who sell at fixed-facility livestock markets.
The bill also allows the use of and protects modern electric payment methods like Automated Clearing House payments. Currently only two forms of payments are covered: checks and wire transfers.
Several agricultural groups, including the American Farm Bureau, the Livestock Marketing Association, and the National Cattlemen’s Beef Association support the legislation.
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