Small Business Preservation and Protection Act of 1987

Small Business Preservation and Protection Act of 1987 - Defines "packer" for purposes of this Act. Prohibits any packer which has more than a five percent share of the national slaughter in three classifications (steers and heifers, cows and bulls, or hogs) from owning or operating any retail meat outlet.

Prohibits any packer's total annual slaughter for any classification from exceeding 25 percent of the larger of the last two annual national slaughter totals.

Prohibits any packer from discriminating in price between different purchasers of meat food products in any marketing area or selling below costs for the purpose of impairing the marketing ability of small business meatpacking concerns.

Prohibits certain packers which are required to file reports under the Packers and Stockyards Act from engaging in livestock futures contracts.

Vests authority to enforce such prohibitions in the Administrator of the Small Business Administration. Establishes fines for violations and permits small business meatpacking concerns which are injured to sue in district court for treble damages.