Negotiated grid purchase.

Negotiated grid purchase. The term negotiated grid purchase in reference to cattle means the negotiation of a base price, from which premiums are added and discounts are subtracted, determined by seller-buyer interaction and agreement on a delivery day. The livestock are scheduled for delivery to the packer not more than 14 days after the date on which the livestock are committed to the packer.

Source

7 CFR § 59.30

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Scoping language

The following definitions apply to this part.

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