Sec. 212. DEFINITIONS
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## SEC. 212 DEFINITIONS **[**[7 U.S.C. 1635a](/us/usc/t7/s1635a)**]** In this subtitle: ####
(1)Base price The term “**base price**” means the price paid for livestock, delivered at the packing plant, before application of any premiums or discounts, expressed in dollars per hundred pounds of carcass weight. ####
(2)Basis level The term “**basis level**” means the agreed-on adjustment to a future price to establish the final price paid for livestock. ####
(3)Current slaughter week The term “**current slaughter week**” means the period beginning Monday, and ending Sunday, of the week in which a reporting day occurs. ####
(4)F.O.B The term “**F.O.B.**” means free on board, regardless of the mode of transportation, at the point of direct shipment by the seller to the buyer. ####
(5)Livestock The term “**livestock**” means cattle, swine, and lambs. ####
(6)Lot The term “**lot**” means a group of one or more livestock that is identified for the purpose of a single transaction between a buyer and a seller. ####
(7)Marketing The term “**marketing**” means the sale or other disposition of livestock, livestock products, or meat or meat food products in commerce. ####
(8)Negotiated purchase The term “**negotiated purchase**” means a cash or spot market purchase by a packer of livestock from a producer under which— #####
(A)the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and #####
(B)the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer. ####
(9)Negotiated sale The term “**negotiated sale**” means a cash or spot market sale by a producer of livestock to a packer under which— #####
(A)the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and #####
(B)the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer. ####
(10)Prior slaughter week The term “**prior slaughter week**” means the Monday through Sunday prior to a reporting day. ####
(11)Producer The term “**producer**” means any person engaged in the business of selling livestock to a packer for slaughter (including the sale of livestock from a packer to another packer). ####
(12)Reporting day The term “**reporting day**” means a day on which— #####
(A)a packer conducts business regarding livestock committed to the packer, or livestock purchased, sold, or slaughtered by the packer; #####
(B)the Secretary is required to make information concerning the business described in subparagraph
(A)available to the public; and #####
(C)the Department of Agriculture is open to conduct business. ####
(13)Secretary The term “**Secretary**” means the Secretary of Agriculture. ####
(14)State The term “**State**” means each of the 50 States. ## CHAPTER 2 CATTLE REPORTING
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