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.
Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document that outlines the terms and conditions between a buyer and a seller regarding the purchase and maintenance of cattle. This agreement is specifically designed for use in the state of Utah and is tailored to meet the specific requirements and regulations of the state's cattle industry. The Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract covers various important aspects related to the transaction, such as the identification of the buyer and seller, the description of the cattle being purchased, the purchase price, payment terms, and delivery details. Additionally, it includes provisions related to the maintenance and care of the cattle during the feeding period. Keywords: Utah, purchase and maintenance agreement, cattle, feeder contract, legal document, buyer, seller, purchase price, payment terms, delivery, transaction, feeding period, care, regulations, industry. Different types of Utah Purchase and Maintenance Agreement for Cattle — Feeder Contracts may exist depending on specific variations or additional clauses included within the contract. These may include: 1. Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract with Pen-Riding Services: This type of agreement may include provisions for additional services provided by the seller, such as pen-riding and daily feeding routines for the cattle during the designated feeding period. It outlines the responsibilities, schedule, and compensation for these services. 2. Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract with Custom Feeding: This contract variation is applicable when the buyer provides specific instructions on the feeding program and requires customized feed formulation for the purchased cattle. It details the necessary specifications, feed requirements, and associated costs. 3. Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract with Minimum Purchase Quantity: This agreement is formulated to cater to a situation where there is a minimum quantity of cattle that the buyer commits to purchasing within a specified timeframe. It outlines the minimum purchase requirement, penalties for non-compliance, and any applicable pricing incentives. 4. Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract with Disease Control Measures: This type of contract highlights additional provisions related to disease prevention, biosecurity measures, and vaccination requirements for the purchased cattle. It ensures that the cattle remain healthy and protected during the feeding period. Overall, the Utah Purchase and Maintenance Agreement for Cattle — Feeder Contract serves as a legally binding document that safeguards the interests of both the buyer and the seller, outlining the terms of the cattle purchase and ensuring proper care and maintenance during the feeding period.
