1. Short title This Act may be cited as the Cattle Price Discovery and Transparency Act of 2023 . 2. Definitions (a) In general Section 212 of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1635a ) is amended— (1) in paragraph (5), by striking cattle, and inserting cattle (including fed cattle), ; (2) by redesignating paragraphs (1) through (14) as paragraphs (2), (3), (4), (6) through (8), (10), and (12) through (18), respectively; (3) by inserting before paragraph (2) (as so redesignated) the following: (1) Approved pricing mechanism The term approved pricing mechanism means a purchase of fed cattle made— (A) through a negotiated purchase; (B) through a negotiated grid purchase; (C) at a stockyard (as defined in section 302 of the Packers and Stockyards Act, 1921 ( 7 U.S.C. 202 )); or (D) through a trading system or platform for the purchase or sale of cattle, or for an arrangement to purchase or sell cattle, through any means in which multiple buyer and seller participants have the ability to, and regularly and consistently, make and accept bids and offers on or at the trading system or platform. ; (4) by inserting after paragraph (4) (as so redesignated) the following: (5) Fed cattle The term fed cattle means a steer or heifer that has been finished on a ration of roughage and feed concentrates, such as grains, protein meal, grass (forage), and other nutrient-rich feeds, prior to slaughter. ; (5) by inserting after paragraph (8) (as so redesignated) the following: (9) Mandatory minimum The term mandatory minimum means, of the quantity of fed cattle purchased for slaughter by a covered packer (as defined in section 221) for each processing plant, the minimum percentage of such cattle that are required to be purchased through approved pricing mechanisms from producers that are not packers.