Colorado Purchase and Maintenance Agreement for Cattle - Feeder Contract

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US-01157BG
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Description

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.

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  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract
  • Preview Purchase and Maintenance Agreement for Cattle - Feeder Contract

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FAQ

The CME Feeder Cattle Index was $155.59 on 5/4, down by 16 cents. Wholesale Boxed Beef prices were weaker in USDA's PM report. Choice was down 74 cents to $254.44, while Select was 75 cents weaker at $245.06.

While feeder cattle futures are for feeder steers weighing around 750 lbs, basis can be estimated for any weight, sex, breed, or type of cattle.

Service contract means a contract that directly engages the time and effort of a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. A service contract may be either a nonpersonal or personal contract.

A contract fee is a mechanism to recover costs associated with research and development that are not otherwise allowable as direct or an indirect cost of a sponsored project.

Feeder Cattle consist of calves weighing 600-800 pounds while Live Cattle are cattle fed to the point of harvest weight. A contract size is 40,000 lbs. for Live Cattle or 50,000 lbs. for Feeder Cattle, and they are priced in cents per pound.

Feeder cattle, in some countries or regions called store cattle, are young cattle mature enough either to undergo backgrounding or to be fattened in preparation for slaughter. They may be steers (castrated males) or heifers (females who have not dropped a calf).

The Index is a seven-day weighted average and is defined as the total dollars sold during the seven-day period divided by the total pounds of feeder steers sold during the same seven-day period. Every pound of feeder steer sold during the seven-day period has the same impact on the final price.

In a contract feeding agreement, the livestock owner usual- ly agrees to supply the livestock to be fed. The feeder agrees to furnish the feed, equipment and labor for winter- ing, and/or pasturing or fattening the animals. The purpose of the contract is to make provisions for: 2022 Handling and feeding.

Worsening drought conditions in the Western United States have caused feeder cattle and cull cows to come to market earlier and higher grain prices due to low stocks-to-use ratios and worsening global corn production have caused a run-up in grain prices lowering a feedlot's demand for feeder cattle.

The cattle crush spread is a hedging tool composed of futures contracts for live cattle (LE), feeder cattle (GF) and corn (CZ) that measures the profitability of finishing beef calves.

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Colorado Purchase and Maintenance Agreement for Cattle - Feeder Contract