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.
Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions for purchasing and maintaining cattle in the Salt Lake, Utah area. This contract pertains to the agreement between a buyer and a seller in the cattle industry, specifically focusing on the feeding and maintenance of cattle. Keywords: Salt Lake, Utah, Purchase and Maintenance Agreement, Cattle, Feeder Contract, buyer, seller, feeding, maintenance. In this agreement, various details are included to ensure clarity and mutual understanding between both parties involved. The contract typically includes sections such as: 1. Parties involved: Identifies the buyer and seller by their legal names and contact information, ensuring accurate communication throughout the agreement. 2. Purchase terms: Clearly outlines the specifics of the cattle being purchased, including the breed, age, quantity, and any other relevant details. Additionally, it mentions the purchase price and any payment terms or schedule agreed upon. 3. Delivery and transfer of ownership: Describes how and when the cattle will be delivered to the buyer and the subsequent transfer of ownership that occurs at the time of delivery. 4. Cattle maintenance: Specifies the responsibilities of the buyer and seller regarding the feeding, care, and management of the purchased cattle. It may cover aspects such as feeding schedules, health care, vaccinations, and veterinarian visits. 5. Liability and risk: Addresses the allocation of risk and liability between both parties in case of any unforeseen events, such as illness, injury, or loss of cattle. It typically includes provisions for insurance and indemnification. 6. Termination and dispute resolution: Outlines the conditions under which the contract can be terminated, as well as the procedures for resolving any disputes or disagreements that may arise during the agreement. Types of Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contracts may include: 1. Standard Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This refers to the basic form of the contract, covering the essential terms and conditions for purchasing and maintaining cattle in the Salt Lake, Utah area. 2. Customized Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type of contract is tailored to suit the specific needs and requirements of the buyer and seller. It may include additional clauses or modifications to accommodate unique circumstances. 3. Long-term Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This contract is designed for agreements involving an extended period or multiple cattle purchases. It may include provisions related to long-term feeding plans, pricing adjustments, and maintenance obligations. In summary, the Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract is a comprehensive document that regulates the purchase, feeding, and maintenance of cattle in the Salt Lake, Utah area. It serves to protect the interests of both the buyer and seller and ensures a clear understanding of the rights, responsibilities, and obligations of each party involved in the contract.Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions for purchasing and maintaining cattle in the Salt Lake, Utah area. This contract pertains to the agreement between a buyer and a seller in the cattle industry, specifically focusing on the feeding and maintenance of cattle. Keywords: Salt Lake, Utah, Purchase and Maintenance Agreement, Cattle, Feeder Contract, buyer, seller, feeding, maintenance. In this agreement, various details are included to ensure clarity and mutual understanding between both parties involved. The contract typically includes sections such as: 1. Parties involved: Identifies the buyer and seller by their legal names and contact information, ensuring accurate communication throughout the agreement. 2. Purchase terms: Clearly outlines the specifics of the cattle being purchased, including the breed, age, quantity, and any other relevant details. Additionally, it mentions the purchase price and any payment terms or schedule agreed upon. 3. Delivery and transfer of ownership: Describes how and when the cattle will be delivered to the buyer and the subsequent transfer of ownership that occurs at the time of delivery. 4. Cattle maintenance: Specifies the responsibilities of the buyer and seller regarding the feeding, care, and management of the purchased cattle. It may cover aspects such as feeding schedules, health care, vaccinations, and veterinarian visits. 5. Liability and risk: Addresses the allocation of risk and liability between both parties in case of any unforeseen events, such as illness, injury, or loss of cattle. It typically includes provisions for insurance and indemnification. 6. Termination and dispute resolution: Outlines the conditions under which the contract can be terminated, as well as the procedures for resolving any disputes or disagreements that may arise during the agreement. Types of Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contracts may include: 1. Standard Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This refers to the basic form of the contract, covering the essential terms and conditions for purchasing and maintaining cattle in the Salt Lake, Utah area. 2. Customized Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This type of contract is tailored to suit the specific needs and requirements of the buyer and seller. It may include additional clauses or modifications to accommodate unique circumstances. 3. Long-term Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract: This contract is designed for agreements involving an extended period or multiple cattle purchases. It may include provisions related to long-term feeding plans, pricing adjustments, and maintenance obligations. In summary, the Salt Lake, Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract is a comprehensive document that regulates the purchase, feeding, and maintenance of cattle in the Salt Lake, Utah area. It serves to protect the interests of both the buyer and seller and ensures a clear understanding of the rights, responsibilities, and obligations of each party involved in the contract.
