7 C.F.R. § 180.3

Current through November 30, 2024
Section 180.3 - Cattle Contracts Library
(a)Initial contract information submission. On January 6, 2023, each packer shall submit to the Secretary information for each active contract with a unique identifier. The information shall be submitted in accordance with § 180.1(e) . The contract information required to be reported includes:
(1) The contract method;
(2) The contract start and end dates; and
(3) All terms associated with:
(i) Each base price source and adjustment;
(ii) Selling basis;
(iii) Premiums and discounts;
(iv) Specifications relating to cattle attributes;
(v) Delivery and transportation terms and payments;
(vi) Financing, risk-sharing, profit-sharing or other financial arrangements; and,
(vii) Volume provisions.
(b)Reporting deadlines. Within 1 business day of making a new contract available, making a change to an existing contract, or making a contract no longer available, each packer must submit the following:
(1) Packers must submit all contract terms in accordance § 108.4(a) for each new active contract for each producer or producers at each plant that it operates or at which it has cattle slaughtered;
(2) Packers must submit any changes to the terms of a previously submitted active contract and associated schedules or appendices, including the unique identifier for the previously submitted contract it supersedes; and
(3) Packers must submit information to remove inactive contracts from the library, including the unique identifier for the now inactive contract.

7 C.F.R. §180.3