7 U.S.C. § 1635d: Definitions

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. Fed steers. Fed heifers. Fed Holsteins and other fed dairy steers and heifers. Cows. Bulls. 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. prices quoted on the Chicago Mercantile Exchange; or other comparable publicly available prices; or such other forward contract as the Secretary determines to be applicable. the term includes only a cattle processing plant that is federally inspected; 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 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. The term “packer-owned cattle” means cattle that a packer owns for at least 14 days immediately before slaughter. whether a packer provided any financing agreement or arrangement with regard to the cattle; whether the delivery terms specified the location of the producer or the location of the packer’s plant; 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 the date on which the cattle were committed to the packer; or the date on which the cattle were purchased by the packer. a negotiated purchase; a formula market arrangement; and a forward contract.