A bill to amend the Packers and Stockyards Act of 1921, as amended, to require packers or other persons buying or acquiring livestock or poultry to provide adequate bonding or other security to pay the producers for such commodities.

[AI summary unavailable — showing source text] Permits the Secretary of Agriculture under the Packers and Stockyards Act to require a reasonable bond from every packer under such rules and regulations as he may prescribe. Revises the definition of the term "packer" to include any person engaged in the business of acquiring by any means livestock or poultry in commerce, and preparing edible poultry and meat products for sale or shipment in commerce. Declares that nothing in this Act shall affect the jurisdiction of the Federal Trade Commission with respect to the retail sale of meat products or poultry products. Deletes the requirement that specified practices be "in commerce" in order to be unlawful, unfair, discriminatory, or deceptive. Empowers the Secretary after notice and a hearing during which he determines that any packer is insolvent to issue an order requiring such packer to cease and desist from operating. Makes any person subject to any of the provisions of the Act liable to persons injured in consequence of a violation of any of the provisions of the Act or of any order of the Secretary. Permits any person complaining of anything done or omitted by any person in violation of any of the provisions of the Act to apply…