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U.S. Department of Agriculture's (USDA) Grain Inspection, Packers and Stockyards Administration (GIPSA) held a hearing in September 2000 on captive supplies, examining a rule proposed by the Western Organization of Resource Councils (WORC) in 1996. The rule would prohibit packers from owning and feeding cattle, unless the cattle are sold for slaughter in an open, public market. The rule would also prohibit packers from procuring cattle for slaughter through the use of a forward contract, unless the contract is offered or bid in an open, public manner.
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