The Grain Inspection, Packers and Stockyards Administration (GIPSA) of the United States Department of Agriculture (USDA) is responsible for administering the Packers and Stockyards Act of 1921, which was designed to ensure fair trade practices and competitive marketing conditions in livestock, meat and poultry markets.
On January 18, 2006, the USDA's Office of the Inspector General (OIG) released the results of an audit report on GIPSA's management and oversight of the Act and concluded that significant improvements in management, planning and policy formulation were needed.
Audio replay of the hearing is posted.