§1635i Definitions

Summary

Defines the words used for rules about buying, selling, and processing pigs and pork. An affiliate is someone who owns or controls 5 percent or more of a packer’s voting stock, whose voting stock the packer owns 5 percent or more of, or who controls or is controlled by the packer. The applicable reporting period is the time covered by the prior day, morning, and afternoon reports under section 1635j(c). A barrow is a neutered male swine. A base market hog is a barrow or gilt with no price discounts or premiums. A boar is an intact male swine. A formula price is one set by a math formula tied to a specific market. A gilt is a young female that has not had a litter. Hog class means barrows or gilts, sows, or boars or stags. A negotiated formula purchase is a lot-by-lot formula set by negotiation with delivery scheduled not later than 14 days after the formula is agreed and the pigs are committed. A noncarcass merit premium is a known price increase for non-carcass traits. An other market formula purchase is a formula based on a market other than swine/pork and can include futures or options. An other purchase arrangement is any purchase that is none of the listed purchase types and does not involve packer-owned swine. A packer buys swine for slaughter, makes or sells meat from swine, or acts as a wholesale broker for unprocessed swine meat, but only includes federally inspected processing plants and, for any calendar year, plants that averaged at least 100,000 swine per year over the immediately preceding five calendar years or persons that averaged at least 200,000 sows/boars (or both) per year over those five years; if a plant or person did not slaughter during the prior five years, the Secretary will consider plant capacity. Packer-owned swine are those owned by the packer (or its subsidiary or affiliate) for at least 14 days immediately before slaughter. Packer-sold swine are those owned more than 14 days immediately before sale for slaughter and sold to another packer. Pork is meat from a pig. Pork product is any product made in whole or part from pork. Purchase data means all required data (including live weight if bought live) for all swine bought in the applicable reporting period, reported by hog class, type of purchase, and packer-owned swine. Slaughter data means all required data for all swine slaughtered by a packer in the applicable reporting period, reported by hog class, type of purchase, and packer-owned swine. A sow is an adult female that has had one or more litters. Swine means pigs raised as feeder pigs, for breeding seedstock, or for slaughter. A swine or pork market formula purchase is a formula price based on a market for swine, pork, or a pork product (not a futures or options contract). Type of purchase includes negotiated purchase, other market formula purchase, swine or pork market formula purchase, negotiated formula purchase, and other purchase arrangement.