§180.3. Cattle Contracts Library.
7 C.F.R. § 180.3
Initial contract information submission. On January 6, 2023, each packer shall submit to the Secretary information for each active contract with a unique identifier. The information shall be submitted in accordance with § 180.1(e). The contract information required to be reported includes:
The contract method;
The contract start and end dates; and
All terms associated with—
Each base price source and adjustment;
Selling basis;
Premiums and discounts;
Specifications relating to cattle attributes;
Delivery and transportation terms and payments;
Financing, risk-sharing, profit-sharing or other financial arrangements; and,
Volume provisions.
Reporting deadlines. Within 1 business day of making a new contract available, making a change to an existing contract, or making a contract no longer available, each packer must submit the following:
Packers must submit all contract terms in accordance § 108.4(a) for each new active contract for each producer or producers at each plant that it operates or at which it has cattle slaughtered;
Packers must submit any changes to the terms of a previously submitted active contract and associated schedules or appendices, including the unique identifier for the previously submitted contract it supersedes; and
Packers must submit information to remove inactive contracts from the library, including the unique identifier for the now inactive contract.
Notes, amendments, and revision history
Authority
Authority: 7 U.S.C. 1621-1627
Source
Source: 87 FR 74955, Dec. 7, 2021, unless otherwise noted.