Cattle Price Discovery and Transparency Act of 2023

HR 1287, the Cattle Price Discovery and Transparency Act of 2023, requires large cattle packers (those slaughtering at least 5% of national fed cattle in the past five years) to report more detailed information about cattle purchases and establish minimum requirements for transparent pricing. Key provisions include creating a public "cattle contract library" that catalogs different types of contracts between packers and producers, mandating that packers purchase a minimum percentage of cattle through transparent pricing mechanisms (with initial minimums based on historical data), and requiring packers to report cattle delivery schedules 14 days in advance. The bill also establishes penalties for noncompliance, including civil penalties up to $90,000 per violation, and directs the Secretary of Agriculture to analyze alternative marketing arrangements tied to boxed beef prices. These changes aim to increase transparency in cattle markets and provide producers with more information to negotiate fair prices.