Amid an ongoing battle over regulation of beefpackers, House Agriculture Committee Chairman David Scott introduced a bill Friday that would target new federal assistance to small cattle operations.

The U.S. contains the fewest cattle since 1951, which is pushing beef prices up. Expanding the herd has been complicated for ranchers, however.

The Agriculture Department will offer small and mid-sized beef processors up to $500 million to help them weather a historic cattle shortage, Secretary Brooke Rollins announced Tuesday.

The U.S. Department of Agriculture is launching a financial relief program for smaller meatpackers that rely on the nation’s ...