House Journal: Page 1072: Tuesday, April 6, 1999

33   include information relating to the purchase of

34   livestock as required by the department.  The reports
35   shall be completed in the manner prescribed by the
36   department.  The department may require that purchase
37   reports be filed in an electronic format.  Rules
38   adopted by the department may provide that the
39   information contained in a purchase report include
40   volume of daily purchases, and the weight, grade, and
41   price paid for livestock, including all premiums,
42   discounts, or adjustments.  If the livestock are
43   purchased pursuant to contract, the department may
44   require that information in the purchase report be
45   categorized by the type of contract, which may include
46   contracts commonly referred to as formula contracts,
47   risk managed contracts, ledger contracts, or cash
48   contracts.  The purchase reports shall allow the
49   department to compare prices paid under contract with
50   cash market prices.  A purchase report required under
Page 2  
 1   this section shall at least include information for
 2   all of the following:
 3     a.  Livestock purchased or committed to delivery on
 4   the business day previous to the date that the report
 5   is filed.
 6     b.  Livestock slaughtered on the two business days
 7   previous to the date that the report is filed, or
 8   earlier, if required by the department.
 9     2.  The department may enter into an agreement with
10   the United States department of agriculture or any
11   private marketing service in order to disseminate
12   information contained in purchase reports filed under
13   this section.
14     3.  The department, in consultation with the office
15   of attorney general, shall designate information in
16   purchase reports that reveals the name of a livestock
17   seller as confidential pursuant to section 22.7.
18     Sec. 103. NEW SECTION.  172C.3  PURCHASE NOTICE.
19     A packer shall post a purchase notice which
20   includes information relating to the purchase of
21   livestock as required by the department.  Rules
22   adopted by the department may provide that the
23   information contained in the posted notice include a
24   summary of information required to be filed in
25   purchase reports as provided in section 172C.2.  The
26   information in the purchase notice shall appear in a
27   format that can be immediately understood by a
28   reasonable person familiar with selling livestock.
29   The notice shall be posted in a conspicuous place at
30   the point of delivery in a manner as prescribed by the
31   department.  The packer shall communicate the

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