
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC1635d]

 
                          TITLE 7--AGRICULTURE
 
     CHAPTER 38--DISTRIBUTION AND MARKETING OF AGRICULTURAL PRODUCTS
 
              SUBCHAPTER II--LIVESTOCK MANDATORY REPORTING
 
                        Part B--Cattle Reporting
 
Sec. 1635d. Definitions

    In this part:

                        (1) Cattle committed

        The term ``cattle committed'' means cattle that are scheduled to 
    be delivered to a packer within the 7-day period beginning on the 
    date of an agreement to sell the cattle.

                           (2) Cattle type

        The term ``cattle type'' means the following types of cattle 
    purchased for slaughter:
            (A) Fed steers.
            (B) Fed heifers.
            (C) Fed Holsteins and other fed dairy steers and heifers.
            (D) Cows.
            (E) Bulls.

                  (3) Formula marketing arrangement

        The term ``formula marketing arrangement'' means the advance 
    commitment of cattle for slaughter by any means other than through a 
    negotiated purchase or a forward contract, using a method for 
    calculating price in which the price is determined at a future date.

                        (4) Forward contract

        The term ``forward contract'' means--
            (A) an agreement for the purchase of cattle, executed in 
        advance of slaughter, under which the base price is established 
        by reference to--
                (i) prices quoted on the Chicago Mercantile Exchange; or
                (ii) other comparable publicly available prices; or

            (B) such other forward contract as the Secretary determines 
        to be applicable.

                             (5) Packer

        The term ``packer'' means any person engaged in the business of 
    buying cattle in commerce for purposes of slaughter, of 
    manufacturing or preparing meats or meat food products from cattle 
    for sale or shipment in commerce, or of marketing meats or meat food 
    products from cattle in an unmanufactured form acting as a wholesale 
    broker, dealer, or distributor in commerce, except that--
            (A) the term includes only a cattle processing plant that is 
        federally inspected;
            (B) for any calendar year, the term includes only a cattle 
        processing plant that slaughtered an average of at least 125,000 
        head of cattle per year during the immediately preceding 5 
        calendar years; and
            (C) in the case of a cattle processing plant that did not 
        slaughter cattle during the immediately preceding 5 calendar 
        years, the Secretary shall consider the plant capacity of the 
        processing plant in determining whether the processing plant 
        should be considered a packer under this part.

                       (6) Packer-owned cattle

        The term ``packer-owned cattle'' means cattle that a packer owns 
    for at least 14 days immediately before slaughter.

                         (7) Terms of trade

        The term ``terms of trade'' includes, with respect to the 
    purchase of cattle for slaughter--
            (A) whether a packer provided any financing agreement or 
        arrangement with regard to the cattle;
            (B) whether the delivery terms specified the location of the 
        producer or the location of the packer's plant;
            (C) whether the producer is able to unilaterally specify the 
        date and time during the business day of the packer that the 
        cattle are to be delivered for slaughter; and
            (D) the percentage of cattle purchased by a packer as a 
        negotiated purchase that are delivered to the plant for 
        slaughter more than 7 days, but fewer than 14 days, after the 
        earlier of--
                (i) the date on which the cattle were committed to the 
            packer; or
                (ii) the date on which the cattle were purchased by the 
            packer.

                        (8) Type of purchase

        The term ``type of purchase'', with respect to cattle, means--
            (A) a negotiated purchase;
            (B) a formula market arrangement; and
            (C) a forward contract.

(Aug. 14, 1946, ch. 966, title II, Sec. 221, as added Pub. L. 106-78, 
title IX, Sec. 911(2), Oct. 22, 1999, 113 Stat. 1189.)

                         Termination of Section

        For termination of section by section 942 of Pub. L. 106-78, see 
    Livestock Mandatory Reporting note set out under section 1635 of 
    this title.
