Allowed interest of livestock auction owners in meatpacking businesses

(a) In general Not later than 1 year after the date of enactment of this Act, the Secretary shall revise section 201.67 of title 9, Code of Federal Regulations (as in effect on the date of enactment of this Act), to exempt the packers described in subsection (b) from the prohibition described in that section. (b) Packers described A packer referred to in subsection (a) is a packer that— (1) with respect to cattle or sheep, has a cumulative slaughter capacity of less than— (A) 2,000 animals per day; or (B) 700,000 animals per year; and (2) with respect to hogs, has a cumulative slaughter capacity of less than— (A) 10,000 animals per day; or (B) 3,000,000 animals per year. (c) Required disclosure In the case of a market agency that has an ownership interest in, finances, or participates in the management or operation of a packer to which the market agency sells consigned livestock, the market agency shall disclose on the account of sale the name of the packer and the nature of the relationship between the market agency and the packer. (d) Savings clause Nothing in this section shall limit the authority of the Secretary to adopt or enforce rules or regulations under the Packers and Stockyards Act, 1921 (7 U.S.C. 181 et seq.), relating to the protection of producers, competition, market integrity, or the prevention of conflicts of interest.