Purchase and Maintenance Agreement for Cattle - Feeder Contract
About this form
The Purchase and Maintenance Agreement for Cattle - Feeder Contract is a legal document that outlines the terms under which cattle are purchased and cared for before they reach market weight. This agreement specifies the responsibilities of both the owner and the feeder, including payment details, care standards, and how profits or losses will be calculated. Unlike other contracts, this form is tailored specifically for cattle transactions, ensuring a clear understanding of ownership and responsibilities throughout the feeding process.
Form components explained
- Identification of the owner and feeder, including contact details.
- Specifications regarding the number and breed of cattle being purchased.
- Details on the purchase price, including methods of payment and financing.
- Truck transfer and agreement on final weight determination prior to sale.
- Responsibilities concerning the care and feeding of the cattle.
- Terms related to the sale of the cattle and profit-sharing details at termination.
Common use cases
This agreement should be used when an individual or entity is purchasing cattle to have them fed and maintained until they reach market weight. It is commonly utilized by cattle owners who want to ensure that the feeder has clear instructions and responsibilities regarding the care and feeding of the animals. Use this form if you are entering into a contractual relationship with a feeder, especially when your intention is to retain ownership while the cattle are cared for and fed before sale.
Who needs this form
- Cattle owners who are looking to purchase and maintain cattle through a feeder.
- Feeders or feeding operations that will care for cattle until they are ready for sale.
- Individuals or businesses involved in cattle farming and management.
- Parties looking to establish clear terms to avoid misunderstandings in cattle transactions.
How to complete this form
- Identify the owner and feeder by providing names and contact details.
- Specify the number, breed, and expected weight of the cattle being purchased.
- Fill in the financial details, including purchase price, payment methods, and any applicable financing agreements.
- Outline the responsibilities for the care and feeding of the cattle, including duration and expected outcomes.
- Sign and date the agreement to finalize the contract.
Is notarization required?
This form does not typically require notarization unless specified by local law. It is advisable to check local regulations to confirm if notarization is required for your specific agreement.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to specify the exact breed and weight of the cattle.
- Not clearly defining payment terms, leading to disputes later.
- Neglecting to outline the duration of cattle care before sale.
- Overlooking state-specific regulations that may affect the agreement.
Advantages of online completion
- Easy access to legally vetted cattle agreements created by licensed attorneys.
- Convenient digital format allows for quick edits and updates.
- Secure storage and retrieval options for future reference.
- Time-saving: download and complete the form at your convenience.
Legal use & context
- The agreement establishes legal obligations between the owner and feeder that can be enforced in court.
- Ensures clarity on ownership rights and responsibilities regarding the cattle.
- Helps prevent disputes related to payment and cattle care expectations.
Quick recap
- This agreement is essential for formalizing the purchase and care of cattle in a feeder contract.
- Clear terms help protect the interests of both the owner and the feeder.
- Using a legally vetted online form simplifies the process and ensures compliance with local laws.
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FAQ
Also this week, CattleFax released their price expectations for 2020. They are forecasting finished steers to average 118 next year, with potential to top out near $130. 750 pound steers are estimated at an average of $146 and 550 pound steer calves at $165, both just slightly ahead of their 2019 averages.
A calf that weighs 500 pounds costs around $700. As compared to a heifer, bred heifer costs more. A bred heifer can cost around $1,300. Whereas matured cows can cost around $4,000 to $5,000 each.
A price of $160 per cwt on 550- to 600-pound calves generates $900-plus in steer calf revenue. (Remember, only half the calves are steers.)
Looking out to 2020, Brester said that given where the feeder cattle futures for next fall are sitting and factoring in the historical basis, 500-600 pound feeder calves could bring $165-$175 next October. 6-700 pound calves might range $155-$165. Also this week, CattleFax released their price expectations for 2020.
A calf that weighs 500 pounds costs around $700. As compared to a heifer, bred heifer costs more. A bred heifer can cost around $1,300.
It will take over a year (367 days) to grow a 500-pound calf to 1,000 pounds if its average daily weight gain is 1.5 pounds per day. Some exten sive forage-finishing systems may require a longer duration for calves to reach slaughter weight if forage quality and quantity restrict growth to no more than 1 pound per day.
The price for 550-pound weaned calves is expected to average $150 per cwt this year, in a range of $135 to $165. We believe the average break-even price for cow-calf producers is about $140, says CattleFax CEO Randy Blach. For the best producers, that breakeven is probably around $100.
Based on the 2019 budget, slaughter cows (1,200 pounds) are expected to average $50 per hundredweight, while 550 pounds steers and 520 heifers are expected to average $145 and $130 per hundredweight respectively.