{"identifier":"/us/usc/t7/s1635a","title":7,"num":"\u00a7\u202f1635a.","heading":"Definitions","text":"\u00a7\u202f1635a.\nDefinitions\nIn this subchapter:\n(1)\nBase price\nThe term \u201cbase price\u201d 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.\n(2)\nBasis level\nThe term \u201cbasis level\u201d means the agreed-on adjustment to a future price to establish the final price paid for livestock.\n(3)\nCurrent slaughter week\nThe term \u201ccurrent slaughter week\u201d means the period beginning Monday, and ending Sunday, of the week in which a reporting day occurs.\n(4)\nF.O.B.\nThe term \u201cF.O.B.\u201d means free on board, regardless of the mode of transportation, at the point of direct shipment by the seller to the buyer.\n(5)\nLivestock\nThe term \u201clivestock\u201d means cattle, swine, and lambs.\n(6)\nLot\nThe term \u201clot\u201d means a group of one or more livestock that is identified for the purpose of a single transaction between a buyer and a seller.\n(7)\nMarketing\nThe term \u201cmarketing\u201d means the sale or other disposition of livestock, livestock products, or meat or meat food products in commerce.\n(8)\nNegotiated purchase\nThe term \u201cnegotiated purchase\u201d means a cash or spot market purchase by a packer of livestock from a producer under which\u2014\n(A) the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and\n(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.\n(9)\nNegotiated sale\nThe term \u201cnegotiated sale\u201d means a cash or spot market sale by a producer of livestock to a packer under which\u2014\n(A) the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and\n(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.\n(10)\nPrior slaughter week\nThe term \u201cprior slaughter week\u201d means the Monday through Sunday prior to a reporting day.\n(11)\nProducer\nThe term \u201cproducer\u201d 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).\n(12)\nReporting day\nThe term \u201creporting day\u201d means a day on which\u2014\n(A) a packer conducts business regarding livestock committed to the packer, or livestock purchased, sold, or slaughtered by the packer;\n(B) the Secretary is required to make information concerning the business described in subparagraph (A) available to the public; and\n(C) the Department of Agriculture is open to conduct business.\n(13)\nSecretary\nThe term \u201cSecretary\u201d means the Secretary of Agriculture.\n(14)\nState\nThe term \u201cState\u201d means each of the 50 States.","url":"https://projectusc.org/usc/t7/s1635a.html","content":[{"t":"sec","id":"/us/usc/t7/s1635a","children":[{"t":"num","text":"\u00a7\u202f1635a."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"In this subchapter:"},{"t":"para","id":"/us/usc/t7/s1635a/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Base price"},{"t":"content","children":[{"t":"p","text":"The term \u201cbase price\u201d 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.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Basis level"},{"t":"content","children":[{"t":"p","text":"The term \u201cbasis level\u201d means the agreed-on adjustment to a future price to establish the final price paid for livestock.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Current slaughter week"},{"t":"content","children":[{"t":"p","text":"The term \u201ccurrent slaughter week\u201d means the period beginning Monday, and ending Sunday, of the week in which a reporting day occurs.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"F.O.B."},{"t":"content","children":[{"t":"p","text":"The term \u201cF.O.B.\u201d means free on board, regardless of the mode of transportation, at the point of direct shipment by the seller to the buyer.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Livestock"},{"t":"content","children":[{"t":"p","text":"The term \u201clivestock\u201d means cattle, swine, and lambs.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/6","children":[{"t":"num","text":"(6)"},{"t":"heading","text":"Lot"},{"t":"content","children":[{"t":"p","text":"The term \u201clot\u201d means a group of one or more livestock that is identified for the purpose of a single transaction between a buyer and a seller.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/7","children":[{"t":"num","text":"(7)"},{"t":"heading","text":"Marketing"},{"t":"content","children":[{"t":"p","text":"The term \u201cmarketing\u201d means the sale or other disposition of livestock, livestock products, or meat or meat food products in commerce.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/8","children":[{"t":"num","text":"(8)"},{"t":"heading","text":"Negotiated purchase"},{"t":"chapeau","text":"The term \u201cnegotiated purchase\u201d means a cash or spot market purchase by a packer of livestock from a producer under which\u2014"},{"t":"subpara","id":"/us/usc/t7/s1635a/8/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1635a/8/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" 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.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/9","children":[{"t":"num","text":"(9)"},{"t":"heading","text":"Negotiated sale"},{"t":"chapeau","text":"The term \u201cnegotiated sale\u201d means a cash or spot market sale by a producer of livestock to a packer under which\u2014"},{"t":"subpara","id":"/us/usc/t7/s1635a/9/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1635a/9/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" 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.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/10","children":[{"t":"num","text":"(10)"},{"t":"heading","text":"Prior slaughter week"},{"t":"content","children":[{"t":"p","text":"The term \u201cprior slaughter week\u201d means the Monday through Sunday prior to a reporting day.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/11","children":[{"t":"num","text":"(11)"},{"t":"heading","text":"Producer"},{"t":"content","children":[{"t":"p","text":"The term \u201cproducer\u201d 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).","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/12","children":[{"t":"num","text":"(12)"},{"t":"heading","text":"Reporting day"},{"t":"chapeau","text":"The term \u201creporting day\u201d means a day on which\u2014"},{"t":"subpara","id":"/us/usc/t7/s1635a/12/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" a packer conducts business regarding livestock committed to the packer, or livestock purchased, sold, or slaughtered by the packer;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1635a/12/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" the Secretary is required to make information concerning the business described in subparagraph (A) available to the public; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1635a/12/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" the Department of Agriculture is open to conduct business.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/13","children":[{"t":"num","text":"(13)"},{"t":"heading","text":"Secretary"},{"t":"content","children":[{"t":"p","text":"The term \u201cSecretary\u201d means the Secretary of Agriculture.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1635a/14","children":[{"t":"num","text":"(14)"},{"t":"heading","text":"State"},{"t":"content","children":[{"t":"p","text":"The term \u201cState\u201d means each of the 50 States.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"}]}]}