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.
Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that outlines the terms and conditions between the buyer and seller in a cattle industry transaction. This comprehensive agreement encompasses various aspects of the cattle purchase, maintenance, and feeding process, ensuring clarity and protection for all involved parties. Keywords: Georgia, Purchase and Maintenance Agreement, Cattle, Feeder Contract, buyer, seller, legal document, terms and conditions, cattle industry, transaction, purchase, maintenance, feeding, clarity, protection, parties. Types of Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract may include: 1. Standard Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: This is the most commonly used type, covering the basic terms and conditions of the cattle purchase, maintenance, and feeding agreement. 2. Customized Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type allows for specific clauses and provisions to be tailored based on the unique requirements of the buyer and seller. It provides flexibility to address particular needs and expectations. 3. Short-term Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: Designed for relatively shorter periods, this type of contract typically covers a specific feeding season or a predetermined length of time. It ensures clarity and avoids any confusion regarding the timeline of the agreement. 4. Long-term Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type is designed for extended periods, often involving ongoing purchase, maintenance, and feeding arrangements between the buyer and seller. It provides a more detailed framework for longer-term partnerships and relationships. 5. Exclusive Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type offers exclusivity to the buyer, ensuring that the seller only sells and maintains their cattle on the buyer's behalf. It establishes a close business relationship, focusing on long-standing cooperation and commitment. 6. Non-exclusive Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type allows the seller to sell and maintain cattle for multiple buyers simultaneously. It provides more flexibility for the seller, catering to different market demands and opportunities. In summary, Georgia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a comprehensive legal document that defines the terms, conditions, and expectations surrounding the purchase, maintenance, and feeding of cattle in the state of Georgia. Different types of this contract may vary in terms of customization, duration, exclusivity, and flexibility to cater to the diverse needs and preferences of buyers and sellers in the cattle industry.
