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.
Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions between a buyer and a seller regarding the purchase and care of cattle in the state of Maine. This agreement is commonly used in the agricultural industry and ensures that both parties are aware of their rights and responsibilities. The Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract covers various important aspects of the transaction, including the identification of the parties involved, a detailed description of the cattle being purchased, and the agreed-upon purchase price. Additionally, it outlines the terms for the care, feeding, and maintenance of the cattle, as well as any specific requirements or considerations. There are several types of Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract, each tailored to specific scenarios or circumstances. These variations include: 1. Standard Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract: This is the most commonly used agreement, which includes all the essential elements necessary for a cattle purchase and maintenance arrangement. 2. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Breeding Rights: This contract incorporates provisions that grant the buyer the right to use the cattle for breeding purposes, allowing for potential financial returns through the sale of offspring. 3. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Performance Guarantee: In this type of agreement, the seller guarantees a certain level of performance or growth rate for the cattle during the agreed-upon feeding period, providing added assurance to the buyer. 4. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Buyback Option: This contract allows the seller to repurchase the cattle from the buyer at a predetermined price within a specific timeframe, providing flexibility to both parties in case circumstances change. It is crucial for both parties to carefully review and understand the terms and conditions stated in the Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract before signing. Seeking legal advice or consulting with an experienced agricultural professional may also be beneficial to ensure compliance with state laws and industry best practices.Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions between a buyer and a seller regarding the purchase and care of cattle in the state of Maine. This agreement is commonly used in the agricultural industry and ensures that both parties are aware of their rights and responsibilities. The Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract covers various important aspects of the transaction, including the identification of the parties involved, a detailed description of the cattle being purchased, and the agreed-upon purchase price. Additionally, it outlines the terms for the care, feeding, and maintenance of the cattle, as well as any specific requirements or considerations. There are several types of Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract, each tailored to specific scenarios or circumstances. These variations include: 1. Standard Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract: This is the most commonly used agreement, which includes all the essential elements necessary for a cattle purchase and maintenance arrangement. 2. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Breeding Rights: This contract incorporates provisions that grant the buyer the right to use the cattle for breeding purposes, allowing for potential financial returns through the sale of offspring. 3. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Performance Guarantee: In this type of agreement, the seller guarantees a certain level of performance or growth rate for the cattle during the agreed-upon feeding period, providing added assurance to the buyer. 4. Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract with Buyback Option: This contract allows the seller to repurchase the cattle from the buyer at a predetermined price within a specific timeframe, providing flexibility to both parties in case circumstances change. It is crucial for both parties to carefully review and understand the terms and conditions stated in the Maine Purchase and Maintenance Agreement for Cattle — Feeder Contract before signing. Seeking legal advice or consulting with an experienced agricultural professional may also be beneficial to ensure compliance with state laws and industry best practices.
