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 Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document outlining the terms and conditions of buying and maintaining cattle in the Harris, Texas region. This comprehensive contract is essential for individuals and businesses involved in the cattle industry as it ensures clear communication and protection of both parties involved. The Purchase and Maintenance Agreement for Cattle — Feeder Contract encompasses various key elements to establish a successful business relationship. This includes details about the buyer and seller, the specific cattle involved, and the terms of the purchase and maintenance obligations. The contract specifies the quantity, breed, age, and health conditions of the cattle being purchased. It also outlines the payment method, price, and agreed-upon delivery date. Additionally, the contract may allow for specific customization options, such as the inclusion of certain vaccinations or vet checks before the buyer takes possession of the animals. In terms of maintenance, the contract covers the responsibilities of both the buyer and seller. This includes the provision of adequate feed and water, proper healthcare and veterinary treatment, and appropriate housing conditions for the cattle. The contract might also stipulate that the buyer or seller is responsible for certain costs associated with transportation or any specific medical treatments needed. While the description above outlines the general nature of a Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract, variations of such contracts may exist. These variations could account for different cattle breeds, specific provisions for organic or natural feed, or additional requirements for particular certifications, such as “grass-fed” or “hormone-free.” In summary, the Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract is a crucial legal document that facilitates the buying and maintaining of cattle. It ensures a clear understanding of each party's obligations, helps prevent disputes, and safeguards the interests of both the buyer and seller.The Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document outlining the terms and conditions of buying and maintaining cattle in the Harris, Texas region. This comprehensive contract is essential for individuals and businesses involved in the cattle industry as it ensures clear communication and protection of both parties involved. The Purchase and Maintenance Agreement for Cattle — Feeder Contract encompasses various key elements to establish a successful business relationship. This includes details about the buyer and seller, the specific cattle involved, and the terms of the purchase and maintenance obligations. The contract specifies the quantity, breed, age, and health conditions of the cattle being purchased. It also outlines the payment method, price, and agreed-upon delivery date. Additionally, the contract may allow for specific customization options, such as the inclusion of certain vaccinations or vet checks before the buyer takes possession of the animals. In terms of maintenance, the contract covers the responsibilities of both the buyer and seller. This includes the provision of adequate feed and water, proper healthcare and veterinary treatment, and appropriate housing conditions for the cattle. The contract might also stipulate that the buyer or seller is responsible for certain costs associated with transportation or any specific medical treatments needed. While the description above outlines the general nature of a Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract, variations of such contracts may exist. These variations could account for different cattle breeds, specific provisions for organic or natural feed, or additional requirements for particular certifications, such as “grass-fed” or “hormone-free.” In summary, the Harris Texas Purchase and Maintenance Agreement for Cattle — Feeder Contract is a crucial legal document that facilitates the buying and maintaining of cattle. It ensures a clear understanding of each party's obligations, helps prevent disputes, and safeguards the interests of both the buyer and seller.
