; and (iii) buyers and sellers may witness bids that are made and accepted; (C) is based on a formula price; or (D) provides for the sale of livestock in a quantity in excess of— (i) in the case of cattle, 40 cattle; (ii) in the case of swine, 30 swine; and (iii) in the case of another type of livestock, a comparable quantity of that type of livestock, as determined by the Secretary. (8) Own or feed livestock directly, through a subsidiary, or through an arrangement that gives a 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 of the livestock is not materially participating in the management of the operation with respect to the production of the livestock, except that this paragraph shall not apply to— (A) an arrangement entered into not more than 7 business days 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; (B) 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— (i) own, feed, or control the livestock; and (ii) provide the livestock to the cooperative for slaughter; (C) 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 (D) a packer that owns only 1 livestock processing plant. (9) Take any action that adversely affects or is likely to adversely affect competition, regardless of whether there is a business justification for the action. ; and (E) in paragraph (10) (as so redesignated), by striking subdivision (a), (b), (c), (d), or (e) and inserting paragraphs (1) through (9)