US HB1648

Directs the Secretary of Agriculture to revise federal regulations within 1 year to allow livestock auction market agencies to own, finance, or participate in managing small meatpacking operations

For cattle and sheep packers, the ownership exemption applies to operations with slaughter capacity under 2,000 animals per day or 700,000 animals per year

For hog packers, the ownership exemption applies to operations with slaughter capacity under 10,000 animals per day or 3,000,000 animals per year

Requires market agencies with packer ownership interests to disclose those relationships to livestock sellers

Preserves the Secretary of Agriculture's authority to enforce Packers and Stockyards Act rules related to producer protection, competition, market integrity, and conflict of interest prevention