Title 7 — AgricultureRelease 119-73not60

§1635a Definitions

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

Last updated Apr 3, 2026|Official source

Summary

Defines key words used for livestock pricing, sales, and reporting. "Base price" is the amount paid for animals at the packing plant, before any premiums or discounts, shown in dollars per hundred pounds of carcass weight. "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 contains a reporting day. "F.O.B." means free on board at the seller’s shipping point, no matter how it’s transported. "Livestock" means cattle, swine, and lambs. "Lot" is a group of one or more animals sold in one transaction. "Marketing" is selling or otherwise moving livestock or meat in commerce. "Negotiated purchase" and "negotiated sale" are cash or spot deals where buyer and seller set the base price that day and delivery to the packer must occur within 14 days of commitment. "Prior slaughter week" is the Monday-through-Sunday week before a reporting day. "Producer" is anyone selling livestock to a packer for slaughter (including a packer selling to another packer). "Reporting day" is a day when a packer handles committed, bought, sold, or slaughtered animals, the Secretary must make the related information public, and 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)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)The term “basis level” means the agreed-on adjustment to a future price to establish the final price paid for livestock.

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

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

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

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

(11)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)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)The term “Secretary” means the Secretary of Agriculture.

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

Reference

Citations & Metadata

Citation

7 U.S.C. § 1635a

Title 7 — Agriculture

Last Updated

Apr 3, 2026

Release point: 119-73not60