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AR AnSci U 8
Arkansas Animal Science Unit 8
| Question | Answer |
|---|---|
| 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
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