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 New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding agreement between the buyer and seller in the state of New York regarding the purchase and maintenance of cattle specifically for feeding purposes. This contract outlines the terms and conditions that both parties must adhere to in order to ensure a smooth and efficient transaction. Keywords: New York, Purchase and Maintenance Agreement, Cattle, Feeder Contract, buyer, seller, feeding purposes, terms and conditions, transaction. There are different types of the New York Purchase and Maintenance Agreement for Cattle — Feeder Contract, including: 1. Standard Feeder Contract: This type of contract stipulates the basic terms and conditions of the sale and maintenance of cattle for feeding purposes, including payment obligations, delivery schedules, and responsibilities of both parties. 2. Customized Feeder Contract: This variation of the contract allows the buyer and seller to negotiate and include additional provisions specific to their needs, such as the type of feed to be used, health certifications required, or any other specialized requirements. 3. Short-Term Feeder Contract: This type of contract is suitable for buyers and sellers looking for a temporary arrangement. It typically covers a shorter period of time and may involve a smaller number of cattle compared to long-term agreements. 4. Long-Term Feeder Contract: As the name suggests, this type of contract is designed for buyers and sellers entering into a long-term commitment. It outlines the obligations, responsibilities, and the duration of the agreement, which can span over several months or even years. 5. Feeder Contract with Maintenance Services: In certain cases, the seller may also offer additional maintenance services for the cattle, such as veterinary care, feeding, or housing. This variation of the contract includes provisions related to these services and any associated costs. Overall, the New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a crucial document that ensures both parties are protected and aware of their rights and obligations in the purchase and maintenance of cattle for feeding purposes. It allows for transparency and clarity, preventing any disputes and promoting a successful transaction.The New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding agreement between the buyer and seller in the state of New York regarding the purchase and maintenance of cattle specifically for feeding purposes. This contract outlines the terms and conditions that both parties must adhere to in order to ensure a smooth and efficient transaction. Keywords: New York, Purchase and Maintenance Agreement, Cattle, Feeder Contract, buyer, seller, feeding purposes, terms and conditions, transaction. There are different types of the New York Purchase and Maintenance Agreement for Cattle — Feeder Contract, including: 1. Standard Feeder Contract: This type of contract stipulates the basic terms and conditions of the sale and maintenance of cattle for feeding purposes, including payment obligations, delivery schedules, and responsibilities of both parties. 2. Customized Feeder Contract: This variation of the contract allows the buyer and seller to negotiate and include additional provisions specific to their needs, such as the type of feed to be used, health certifications required, or any other specialized requirements. 3. Short-Term Feeder Contract: This type of contract is suitable for buyers and sellers looking for a temporary arrangement. It typically covers a shorter period of time and may involve a smaller number of cattle compared to long-term agreements. 4. Long-Term Feeder Contract: As the name suggests, this type of contract is designed for buyers and sellers entering into a long-term commitment. It outlines the obligations, responsibilities, and the duration of the agreement, which can span over several months or even years. 5. Feeder Contract with Maintenance Services: In certain cases, the seller may also offer additional maintenance services for the cattle, such as veterinary care, feeding, or housing. This variation of the contract includes provisions related to these services and any associated costs. Overall, the New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a crucial document that ensures both parties are protected and aware of their rights and obligations in the purchase and maintenance of cattle for feeding purposes. It allows for transparency and clarity, preventing any disputes and promoting a successful transaction.
