A bill to amend the Packers and Stockyards Act of 1921, as amended, and for other purposes.

[AI summary unavailable — showing source text] Authorizes the Secretary of Agriculture, under the Packers and Stockyards Act of 1921, to require insolvent meat and poultry packers to cease and desist from operating and to grant or deny reparations to complainants who are charged with violations under such Act. Grants priority in an insolvency proceeding to debts owed for the purchase of livestock. Prohibits packers from giving security interests in, or placing liens upon, livestock purchased in cash, inventory, or accounts receivable except to the extent of the value of such livestock, inventories, or receivables in excess of the amount owed to unpaid sellers of livestock in cash sales.…