A bill to amend the Consolidated Farm and Rural Development Act to establish a loan insurance program for producers of livestock and poultry.

[AI summary unavailable — showing source text] Directs the Secretary of Agriculture to insure loans made by a lender other than the United States, or made by the Secretary and sold to such lender, to a borrower in the United States who: (1) is a citizen of the United States engaged solely or primarily in agricultural production; (2) is or has been engaged in livestock and poultry producing operations to an extent and in a manner determined by the Secretary as necessary to assure reasonable prospects of success in livestock and poultry producing endeavors financed by loans insured under this subtitle; (3) is unable to obtain sufficient credit to finance his actual needs in the livestock and poultry producing business at reasonable rates and terms, as determined by the Secretary after considering prevailing private and cooperative rates and terms in the community in or near which the applicant resides for loans for similar purposes and periods of time; and (4) has, if he has received previously a loan insured under this subtitle, performed successfully the terms of such loan. Sets forth requirements pertaining to the issuance of loans and to the rate of interest payments to be made. Establishes the Livestock and Poultry Producer'…