Livestock Producers Emergency Loan Relief Act

[AI summary unavailable — showing source text] Livestock Producers Emergency Loan Relief Act - Authorizes and directs the Secretary of Agriculture to make emergency loans to bona fide farmers and ranchers who are primarily and directly engaged in the breeding, raising, or fattening of livestock. Provides that such loans shall be made to farmers and ranchers who cannot obtain such loans from commercial sources on reasonable terms and conditions. Provides that such loans shall be made for the purpose of assisting such farmers and stockmen to maintain their livestock operations. Provides that the amount of the loan shall be determined by: (1) multiplying the number of cattle owned by the applicant by $150; (2) multiplying the number of swine and sheep owned by the applicant by an amount which the Secretary determines bears an appropriate relationship to $150, taking into consideration the relative value of swine and sheep as compared with cattle and the cost of maintaining swine and sheep as compared with cattle; and (3) but in no case shall the amount of the loan exceed $250,000. Authorizes the Secretary to use funds of the Commodity Credit Corporation in carrying out the provisions of this Act. Provides that no loan may be made …