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AR AnSci U 8

Arkansas Animal Science Unit 8

QuestionAnswer
livestock are sold by public bidding with the animal going to the highest bidder auction market
an established $1 per head fee for every head of beef sold in the United States beef checkoff
a product made from part of an animal that is not used for food byproduct
the amount of product buyers will purchase at a given time for a given price demand
a form of auction selling used mainly for feeder cattle electronic marketing
a marketing procedure of a producer and buyer entering into an agreement well before a product is produced forward contracting
an agreement to take or make delivery of a product in the future at a specified price; involves futures trading on a commodity exchange futures
the processes and functions of moving animals and animal products from the producer to the consumer so that consumer demand is satisfied marketing
a contract between producer and buyer conveying the right to sell within a specific time options
a federal law that is administered by the USDA that deals with the movement of livestock across state lines Packers and Stockyards Act
a sale made directly between a producer and buyer private treaty
loss of weight that occurs when livestock are moved to market shrinkage
amount of product that producers will offer for sale at a given price at a given time supply
livestock sold directly to the packer terminal market
Created by: charissamoore