Title 7, AgricultureRelease 119-110

§1635a Definitions

Title 7 › CHAPTER 38 — DISTRIBUTION AND MARKETING OF AGRICULTURAL PRODUCTS › SUBCHAPTER II — LIVESTOCK MANDATORY REPORTING › Part A — Purpose; Definitions › § 1635a

Last updated Sep 22, 2026|Official source

Summary

Defines key words used for rules about buying, selling, pricing, and reporting on livestock and packers. Base price is the amount paid for livestock delivered to the packing plant, stated in dollars per hundred pounds of carcass weight before any discounts or bonuses. Basis level is the agreed adjustment to a future price to set the final price. Current slaughter week is the Monday-through-Sunday week that includes a reporting day; prior slaughter week is the Monday-through-Sunday week before a reporting day. F.O.B. means free on board at the seller’s shipping point, no matter how the animals are moved. Livestock means cattle, swine, and lambs. Lot is one or more animals set aside for a single sale. Marketing is selling or otherwise moving livestock, livestock products, or meat in commerce. Negotiated purchase and negotiated sale are cash or spot deals where buyer and seller agree the base price on a day and delivery to the packer is scheduled within 14 days after the animals are committed. Producer is anyone who sells livestock to a packer for slaughter, including sales between packers. Reporting day is a day when a packer does business about animals committed to them or animals bought, sold, or slaughtered, when the Secretary must make that information public, and when the Department of Agriculture is open. Secretary means the Secretary of Agriculture. State means each of the 50 States.

Full Legal Text

Title 7, §1635a

Agriculture, Source: USLM XML via OLRC

In this subchapter:

(1)Base price

The term “base price” means the price paid for livestock, delivered at the packing plant, before application of any premiums or discounts, expressed in dollars per hundred pounds of carcass weight.

(2)Basis level

The term “basis level” means the agreed-on adjustment to a future price to establish the final price paid for livestock.

(3)Current slaughter week

The term “current slaughter week” means the period beginning Monday, and ending Sunday, of the week in which a reporting day occurs.

(4)F.O.B.

The term “F.O.B.” means free on board, regardless of the mode of transportation, at the point of direct shipment by the seller to the buyer.

(5)Livestock

The term “livestock” means cattle, swine, and lambs.

(6)Lot

The term “lot” means a group of one or more livestock that is identified for the purpose of a single transaction between a buyer and a seller.

(7)Marketing

The term “marketing” means the sale or other disposition of livestock, livestock products, or meat or meat food products in commerce.

(8)Negotiated purchase

The term “negotiated purchase” means a cash or spot market purchase by a packer of livestock from a producer under which—

(A)the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and

(B)the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer.

(9)Negotiated sale

The term “negotiated sale” means a cash or spot market sale by a producer of livestock to a packer under which—

(A)the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and

(B)the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer.

(10)Prior slaughter week

The term “prior slaughter week” means the Monday through Sunday prior to a reporting day.

(11)Producer

The term “producer” means any person engaged in the business of selling livestock to a packer for slaughter (including the sale of livestock from a packer to another packer).

(12)Reporting day

The term “reporting day” means a day on which—

(A)a packer conducts business regarding livestock committed to the packer, or livestock purchased, sold, or slaughtered by the packer;

(B)the Secretary is required to make information concerning the business described in subparagraph (A) available to the public; and

(C)the Department of Agriculture is open to conduct business.

(13)Secretary

The term “Secretary” means the Secretary of Agriculture.

(14)State

The term “State” means each of the 50 States.

Reference

Citations & Metadata

Citation

7 U.S.C. § 1635a

Title 7, Agriculture

Last Updated

Sep 22, 2026

Release point: 119-110