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 Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions regarding the purchase and maintenance of cattle in Nevada. This contract is specifically designed for feeder cattle, which refers to young, weaned cattle that require additional feeding and care before being sold for slaughter. The agreement covers various aspects related to the transaction, including the identification and description of the cattle being purchased, the purchase price and payment terms, as well as the responsibilities and obligations of both the buyer and the seller. The Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract addresses important details such as the delivery date and location, transportation arrangements, liability for loss or damage during transit, and any warranties or guarantees provided by the seller. It also outlines the timeframe for the buyer's inspection of the cattle upon delivery and the procedures for reporting any discrepancies or issues. Furthermore, this contract includes provisions for the maintenance and care of the cattle during the feeding period. It specifies the type and quality of feed to be provided by the seller, along with guidelines for proper handling and management of the cattle. It may also mention any additional veterinary care or healthcare requirements. Furthermore, it's important to note that there may be variations or specific types of feeder contracts within the Nevada Purchase and Maintenance Agreement for Cattle, depending on the specific needs or preferences of the parties involved. These variations may include specific terms for the duration of the feeding period, the type of feed or ration to be provided, or any additional services to be rendered by the seller. In conclusion, the Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract is a comprehensive and essential legal document that governs the purchase and care of feeder cattle in Nevada. It ensures clarity, protection, and mutual understanding between the buyer and seller, making it a crucial tool for anyone engaged in the cattle industry in the state.The Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions regarding the purchase and maintenance of cattle in Nevada. This contract is specifically designed for feeder cattle, which refers to young, weaned cattle that require additional feeding and care before being sold for slaughter. The agreement covers various aspects related to the transaction, including the identification and description of the cattle being purchased, the purchase price and payment terms, as well as the responsibilities and obligations of both the buyer and the seller. The Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract addresses important details such as the delivery date and location, transportation arrangements, liability for loss or damage during transit, and any warranties or guarantees provided by the seller. It also outlines the timeframe for the buyer's inspection of the cattle upon delivery and the procedures for reporting any discrepancies or issues. Furthermore, this contract includes provisions for the maintenance and care of the cattle during the feeding period. It specifies the type and quality of feed to be provided by the seller, along with guidelines for proper handling and management of the cattle. It may also mention any additional veterinary care or healthcare requirements. Furthermore, it's important to note that there may be variations or specific types of feeder contracts within the Nevada Purchase and Maintenance Agreement for Cattle, depending on the specific needs or preferences of the parties involved. These variations may include specific terms for the duration of the feeding period, the type of feed or ration to be provided, or any additional services to be rendered by the seller. In conclusion, the Nevada Purchase and Maintenance Agreement for Cattle — Feeder Contract is a comprehensive and essential legal document that governs the purchase and care of feeder cattle in Nevada. It ensures clarity, protection, and mutual understanding between the buyer and seller, making it a crucial tool for anyone engaged in the cattle industry in the state.
