1. Prohibition on packers owning, feeding, or controlling livestock (a) In general Section 202 of the Packers and Stockyards Act, 1921 ( 7 U.S.C. 192 ), is amended— (1) by redesignating subsections (f) and (g) as subsections (g) and (h), respectively; (2) by inserting after subsection (e) the following: (f) Own or feed livestock directly, through a subsidiary, or through an arrangement that gives the packer operational, managerial, or supervisory control over the livestock, or over the farming operation that produces the livestock, to such an extent that the producer is no longer materially participating in the management of the operation with respect to the production of the livestock, except that this subsection shall not apply to— (1) an arrangement entered into within 7 days (excluding any Saturday or Sunday) before slaughter of the livestock by a packer, a person acting through the packer, or a person that directly or indirectly controls, or is controlled by or under common control with, the packer; (2) a cooperative or entity owned by a cooperative, if a majority of the ownership interest in the cooperative is held by active cooperative members that— (A) own, feed, or control livestock; and (B) provide the livestock to the cooperative for slaughter; (3) a packer that is not required to report to the Secretary on each reporting day (as defined in section 212 of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1635a )) information on the price and quantity of livestock purchased by the packer; or (4) a packer that owns 1 livestock processing plant; or