This bill mandates the Secretary of Agriculture to amend existing regulations, specifically section 201.67 of title 9, Code of Federal Regulations. The primary goal is to exempt certain packers from the prohibition against having an interest in market agencies , thereby potentially fostering local meat processing. The exemption applies to packers with a cumulative slaughter capacity below specified thresholds: less than 2,000 cattle or sheep per day (or 700,000 annually), and less than 10,000 hogs per day (or 3,000,000 annually). Furthermore, any market agency with an ownership or management interest in such an exempted packer must disclose the packer's name and the nature of the relationship on the account of sale when selling consigned livestock to that packer. A savings clause clarifies that this Act does not limit the Secretary's authority under the Packers and Stockyards Act of 1921 to enforce rules protecting producers, competition, market integrity, or preventing conflicts of interest.