A bill to provide indemnities to beef, goat or sheep producers or owners when import quotas are used to suppress market prices.

Directs the Secretary of Agriculture to pay an indemnity, calculated according to a specified formula, to eligible producers or owners of cattle, goats, or sheep (except lambs), whenever the President acts to increase or suspend quotas or to otherwise increase imports for any reasons other than as part of an international agreement to expand agricultural exports from the United States.