Beef is raised in three phases before it is processed: calves are raised on pasture and range land, as feeder cattle they feed on pasture, crop residue, and range land, and finally they go to feedlots, where they are fattened for slaughter. Feeder contracts are a type of futures contract based on young cattle that are sent to feedlots in preparation for slaughter. The Chicago Mercantile Exchange first introduced a feeder cattle contract in 1971.
It is important make sure the agreement is clear as to whether a bailment or an actual sale of the animals is intended. In order to constitute a bailment and not a sale, a fattening or raising agreement should provide that the owner agrees to provide the animals involved to the feeder with the owner retaining title to the animals, and the feeder or raiser is to feed or raise them for sale as the owner deems proper. This form is a sample of a sale rather than a bailment.
The Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that outlines the terms and conditions of purchasing and maintaining cattle within the Cuyahoga County area in Ohio. This agreement is designed to protect the interests of both the buyer and the seller, ensuring a fair and transparent transaction. This contract covers various aspects related to the purchase and maintenance of cattle, focusing specifically on feeder cattle. Feeder cattle are young, weaned cattle that are raised for a period of time before being sold to feedlots for further finishing. The contract provides a framework for the buyer and seller to agree upon essential details, including the purchase price, delivery terms, maintenance responsibilities, and any additional terms deemed necessary. Key elements discussed in the Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract may include: 1. Purchase Terms: The contract specifies the agreed-upon purchase price for the feeder cattle. This includes the price per head or per pound, as well as any applicable discounts or premiums. 2. Delivery Terms: The agreement outlines the delivery terms, including the location and date of delivery. It may also address the transportation responsibilities, with details on who covers the costs and liability. 3. Inspection: The contract usually includes provisions for cattle inspection upon delivery to ensure their quality and health. This ensures that the buyer receives the agreed-upon number of healthy and marketable cattle. 4. Maintenance Responsibilities: This section outlines the respective responsibilities of the buyer and seller regarding the maintenance of the cattle. It may cover feeding protocols, healthcare measures, and any necessary vaccinations or treatments. 5. Risk of Loss: The contract addresses the risk of loss, establishing who bears the responsibility if any cattle die or become unfit for sale during the maintenance period. 6. Payment Terms: Details regarding payment, such as the method and timing, are often included. This ensures that both parties are clear on their financial obligations. 7. Breach of Contract: The agreement may lay out the consequences and remedies in the event of a breach. This helps protect both parties' interests and provides a mechanism to address any disputes that may arise. It's important to note that the Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract may have variations or additional terms based on specific circumstances or individual preferences. Different types or variations of such contracts may be categorized based on factors such as the breed of cattle, the purpose of purchase, or the duration of the maintenance period. However, the core elements of the contract typically remain the same, focusing on the critical aspects of purchasing and maintaining feeder cattle in Cuyahoga County, Ohio.The Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that outlines the terms and conditions of purchasing and maintaining cattle within the Cuyahoga County area in Ohio. This agreement is designed to protect the interests of both the buyer and the seller, ensuring a fair and transparent transaction. This contract covers various aspects related to the purchase and maintenance of cattle, focusing specifically on feeder cattle. Feeder cattle are young, weaned cattle that are raised for a period of time before being sold to feedlots for further finishing. The contract provides a framework for the buyer and seller to agree upon essential details, including the purchase price, delivery terms, maintenance responsibilities, and any additional terms deemed necessary. Key elements discussed in the Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract may include: 1. Purchase Terms: The contract specifies the agreed-upon purchase price for the feeder cattle. This includes the price per head or per pound, as well as any applicable discounts or premiums. 2. Delivery Terms: The agreement outlines the delivery terms, including the location and date of delivery. It may also address the transportation responsibilities, with details on who covers the costs and liability. 3. Inspection: The contract usually includes provisions for cattle inspection upon delivery to ensure their quality and health. This ensures that the buyer receives the agreed-upon number of healthy and marketable cattle. 4. Maintenance Responsibilities: This section outlines the respective responsibilities of the buyer and seller regarding the maintenance of the cattle. It may cover feeding protocols, healthcare measures, and any necessary vaccinations or treatments. 5. Risk of Loss: The contract addresses the risk of loss, establishing who bears the responsibility if any cattle die or become unfit for sale during the maintenance period. 6. Payment Terms: Details regarding payment, such as the method and timing, are often included. This ensures that both parties are clear on their financial obligations. 7. Breach of Contract: The agreement may lay out the consequences and remedies in the event of a breach. This helps protect both parties' interests and provides a mechanism to address any disputes that may arise. It's important to note that the Cuyahoga Ohio Purchase and Maintenance Agreement for Cattle — Feeder Contract may have variations or additional terms based on specific circumstances or individual preferences. Different types or variations of such contracts may be categorized based on factors such as the breed of cattle, the purpose of purchase, or the duration of the maintenance period. However, the core elements of the contract typically remain the same, focusing on the critical aspects of purchasing and maintaining feeder cattle in Cuyahoga County, Ohio.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
