The House Agriculture Committee approved a bill last week ending September 16, 2016 clarifying that modern livestock marketing methods are covered by the Packers and Stockyard Act of 1921. The legislation also updates methods of payments to include electronic funds transfers. The measure, according to Farm Bureau, will ensure today’s livestock producers and contemporary livestock marketing practices are clearly protected by the 1921 law.
The Technical and Clarifying Amendments to the Packers and Stockyards Act of 2016 (H.R. 5883) will make it clear that the Packers and Stockyards Act applies to video and Internet auctions, as well as other forms of electronic sale of livestock.