If would establish regional mandatory minimum thresholds of negotiated cash trades to enable price discovery in cattle marketing regions. It requires the Secretary of Agriculture to establish regionally sufficient levels of negotiated cash trade, seek public comment on those levels, then implement them.

It would require USDA to create and maintain a library of marketing contracts between packers and producers, and require packers to supply this information to USDA. 

It would make clear that all information should be reported in a manner that ensures confidentiality, and note, “Nothing in this section permits the Secretary, or any officer or employee of the Secretary, to withhold from the public the information [required to be reported under LMR].”

It would mandate that a packer report the number of cattle scheduled to be delivered for slaughter each day for the next 14 days. This requirement already exists for the swine industry.