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The Packers and Stockyards Act of 1921 (7 U.S.C. §§ 181-229b; P&S Act) regulates meatpacking, livestock dealers, market agencies, live poultry dealers, and swine contractors to prohibit unfair or deceptive practices, giving undue preferences, apportioning supply, manipulating prices, or creating a monopoly.
The Packers and Stockyards Act provides the Secretary of Agriculture the authority to set rates to be paid by agencies for services rendered. Under the Act, however, two conditions are put upon the exercise of this power: (1) The Secretary must be of the opinion that the existing rate is unjust, and (2) this opinion must be the result of a full hearing.
The law was passed in 1921 as part of the Packers and Stockyards Act (7 U.S.C. §§ 181-229b; P&S Act) which was passed in order to "regulate interstate and foreign commerce in live stock, live-stock produce, dairy products, poultry, poultry products, and eggs, and for other purposes."
In 2009, Tallgrass was fined $402,816 by the U.S. Department of Agriculture ($50,000 plus the amount owed to the suppliers) for failing to pay the full purchase price of livestock, operating as a packer without maintaining the required bond and engaging in business of a packer without meeting financial requirements set out by the Packers and Stockyards Act.
"The rise of the Chicago packers and the origins of meat inspection and antitrust," Economic inquiry (1992) 30#2 pp 242–262. Magill, ed., Frank N. "The Supreme Court upholds Prosecution of the Beef Trust," in Great Events from History II: Business and Commerce Series Volume 1 1897-1923 (1994) pp 107-111
Construction to redevelop one of the last remaining industrial buildings in the Fort Worth Stockyards is expected to begin soon. The abandoned red-brick Armour & Co. Packing Plant on the east end ...
Today's Packers and Stockyards Program (P&S) is the progeny of the Packers and Stockyards Administration, which was established in 1921 under the Packers and Stockyards Act. The organization was instituted to regulate livestock marketing activities at public stockyards and the operations of meat packers and live poultry dealers.
WASHINGTON (Reuters) -Hundreds of internal contractors working for the U.S. Agency for International Development are being put on unpaid leave and some are being terminated after U.S. President ...