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 Massachusetts Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that establishes a binding agreement between a buyer and a seller for the purchase and maintenance of cattle in Massachusetts. This contract is primarily used in the agricultural industry and outlines the terms and conditions governing the sale, care, and feeding of cattle. Keywords: Massachusetts, Purchase and Maintenance Agreement, Cattle, Feeder Contract, legal document, buyer, seller, purchase, maintenance, agricultural industry, terms and conditions, sale, care, feeding. Types of Massachusetts Purchase and Maintenance Agreement for Cattle — Feeder Contracts: 1. Standard Feeder Contract: This is the most commonly used type of agreement that sets out the general terms for purchasing and maintaining cattle. It includes provisions related to the quantity of cattle, purchase price, delivery terms, and maintenance responsibilities. 2. Customized Feeder Contract: This type of agreement allows for more specific terms negotiated between the buyer and the seller. It includes provisions tailored to the unique requirements of each party, such as specific feeding instructions, vaccination protocols, and care guidelines. 3. Extended Maintenance Feeder Contract: This contract variant extends the buyer's responsibility for the maintenance and care of the cattle beyond the usual duration. It may include provisions related to long-term feeding arrangements, health monitoring, and additional services provided by the seller. 4. Multiple Purchase Feeder Contract: This type of agreement enables the buyer to make several purchases of cattle over a specified period. It outlines the terms for multiple transactions, including pricing, delivery schedule, and maintenance requirements for each batch of cattle acquired. 5. Preconditioned Feeder Contract: This specialized contract pertains to cattle that have undergone specific pre-conditioning practices, such as weaning and vaccination, before the sale. It includes provisions related to the pre-conditioning process, as well as responsibilities for continuing care and maintenance. 6. Feeder Contract with Buyback Option: This contract type includes a buyback provision, allowing the seller to repurchase the cattle at a later date. It outlines the buyback terms and conditions, including pricing, repurchase timeline, and responsibilities for the care of the cattle until the buyback occurs. These various types of Massachusetts Purchase and Maintenance Agreements for Cattle — Feeder Contracts provide flexibility and options for buyers and sellers in the cattle industry, ensuring a clear understanding of the expectations, responsibilities, and legal obligations regarding the purchase and maintenance of cattle in Massachusetts.The Massachusetts Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that establishes a binding agreement between a buyer and a seller for the purchase and maintenance of cattle in Massachusetts. This contract is primarily used in the agricultural industry and outlines the terms and conditions governing the sale, care, and feeding of cattle. Keywords: Massachusetts, Purchase and Maintenance Agreement, Cattle, Feeder Contract, legal document, buyer, seller, purchase, maintenance, agricultural industry, terms and conditions, sale, care, feeding. Types of Massachusetts Purchase and Maintenance Agreement for Cattle — Feeder Contracts: 1. Standard Feeder Contract: This is the most commonly used type of agreement that sets out the general terms for purchasing and maintaining cattle. It includes provisions related to the quantity of cattle, purchase price, delivery terms, and maintenance responsibilities. 2. Customized Feeder Contract: This type of agreement allows for more specific terms negotiated between the buyer and the seller. It includes provisions tailored to the unique requirements of each party, such as specific feeding instructions, vaccination protocols, and care guidelines. 3. Extended Maintenance Feeder Contract: This contract variant extends the buyer's responsibility for the maintenance and care of the cattle beyond the usual duration. It may include provisions related to long-term feeding arrangements, health monitoring, and additional services provided by the seller. 4. Multiple Purchase Feeder Contract: This type of agreement enables the buyer to make several purchases of cattle over a specified period. It outlines the terms for multiple transactions, including pricing, delivery schedule, and maintenance requirements for each batch of cattle acquired. 5. Preconditioned Feeder Contract: This specialized contract pertains to cattle that have undergone specific pre-conditioning practices, such as weaning and vaccination, before the sale. It includes provisions related to the pre-conditioning process, as well as responsibilities for continuing care and maintenance. 6. Feeder Contract with Buyback Option: This contract type includes a buyback provision, allowing the seller to repurchase the cattle at a later date. It outlines the buyback terms and conditions, including pricing, repurchase timeline, and responsibilities for the care of the cattle until the buyback occurs. These various types of Massachusetts Purchase and Maintenance Agreements for Cattle — Feeder Contracts provide flexibility and options for buyers and sellers in the cattle industry, ensuring a clear understanding of the expectations, responsibilities, and legal obligations regarding the purchase and maintenance of cattle in Massachusetts.
