Competitive and Fair Agricultural Markets Act of 2007

Competitive and Fair Agricultural Markets Act of 2007 - Amends the Agricultural Fair Practices Act of 1967 to define specified terms.

Establishes within the Department of Agriculture the Office of Special Counsel for Competition Matters, which shall be headed by a Special Counsel for Competition Matters. States that the Office shall: (1) investigate and prosecute violations of this Act and the Packers and Stockyards Act, 1921; (2) serve as a liaison between the Department and the Department of Justice and the Federal Trade Commission (FTC) with respect to competition and trade practices in the food and agricultural sector; and (3) maintain a staff of attorneys and other appropriate professionals.

Prohibits unfair or deceptive agricultural commerce acts or practices respecting: (1) crops; (2) producer associations; and (3) agricultural production and marketing contracts.

Sets forth agricultural and production contract and enforcement provisions.

Amends the Packers and Stockyards Act, 1921 to eliminate the "slaughter" requirement from the definitions of "poultry grower," "poultry growing arrangement," and "live poultry dealer." States that the term "poultry grower" does not include an employee of such grower.

Extends: (1) administrative enforcement authority to live poultry dealers; and (2) temporary injunction or restraining order authority to instances of poultry care. Increases the maximum civil penalty for violations by live poultry dealers.

States that it shall be an unlawful practice to engage in an unfair or discriminatory practice or device or to control or manipulate prices regardless of whether the practice, device, or course of business causes a competitive injury or otherwise adversely effects competition, and regardless of any alleged business justification.