7 U.S.C. § 1635i | Definitions

In this part:

(1)

Affiliate

The term “affiliate”, with respect to a packer, means—

(A)

a person that directly or indirectly owns, controls, or holds with power to vote, 5 percent or more of the outstanding voting securities of the packer;

(B)

a person 5 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the packer; and

(C)

a person that directly or indirectly controls, or is controlled by or under common control with, the packer.

(2)

Applicable reporting period

section 1635j(c) of this titleThe term “applicable reporting period” means the period of time prescribed by the prior day report, the morning report, and the afternoon report, as required under .

(3)

Barrow

The term “barrow” means a neutered male swine.

(4)

Base market hog

The term “base market hog” means a barrow or gilt for which no discounts are subtracted from and no premiums are added to the base price.

(5)

Boar

The term “boar” means a sexually-intact male swine.

(6)

Formula price

The term “formula price” means a price determined by a mathematical formula under which the price established for a specified market serves as the basis for the formula.

(7)

Gilt

The term “gilt” means a young female swine that has not produced a litter.

(8)

Hog class

The term “hog class” means, as applicable—

(A)

barrows or gilts;

(B)

sows; or

(C)

boars or stags.

(9)

Negotiated formula purchase

The term “negotiated formula purchase” means a swine or pork market formula purchase under which—

(A)

the formula is determined by negotiation on a lot-by-lot basis; and

(B)

the swine are scheduled for delivery to the packer not later than 14 days after the date on which the formula is negotiated and swine are committed to the packer.

(10)

Noncarcass merit premium

The term “noncarcass merit premium” means an increase in the base price of the swine offered by an individual packer or packing plant, based on any factor other than the characteristics of the carcass, if the actual amount of the premium is known before the sale and delivery of the swine.

(11)

Other market formula purchase

(A)

In general

The term “other market formula purchase” means a purchase of swine by a packer in which the pricing mechanism is a formula price based on any market other than the market for swine, pork, or a pork product.

(B)

Inclusion

The term “other market formula purchase” includes a formula purchase in a case in which the price formula is based on one or more futures or options contracts.

(12)

Other purchase arrangement

The term “other purchase arrangement” means a purchase of swine by a packer that—

(A)

is not a negotiated purchase, swine or pork market formula purchase, negotiated formula purchase, or other market formula purchase; and

(B)

does not involve packer-owned swine.

(13)

Packer

The term “packer” means any person engaged in the business of buying swine in commerce for purposes of slaughter, of manufacturing or preparing meats or meat food products from swine for sale or shipment in commerce, or of marketing meats or meat food products from swine in an unmanufactured form acting as a wholesale broker, dealer, or distributor in commerce, except that—

(A)

the term includes only a swine processing plant that is federally inspected;

(B)

for any calendar year, the term includes only—

(i)

a swine processing plant that slaughtered an average of at least 100,000 swine per year during the immediately preceding five calendar years; and

(ii)

a person that slaughtered an average of at least 200,000 sows, boars, or any combination thereof, per year during the immediately preceding five calendar years; and

(C)

in the case of a swine processing plant or person that did not slaughter swine during the immediately preceding 5 calendar years, the Secretary shall consider the plant capacity of the processing plant or person in determining whether the processing plant or person should be considered a packer under this part.

(14)

Packer-owned swine

The term “packer-owned swine” means swine that a packer (including a subsidiary or affiliate of the packer) owns for at least 14 days immediately before slaughter.

(15)

Packer-sold swine

The term “packer-sold swine” means the swine that are—

(A)

owned by a packer (including a subsidiary or affiliate of the packer) for more than 14 days immediately before sale for slaughter; and

(B)

sold for slaughter to another packer.

(16)

Pork

The term “pork” means the meat of a porcine animal.

(17)

Pork product

The term “pork product” means a product or byproduct produced or processed in whole or in part from pork.

(18)

Purchase data

The term “purchase data” means all of the applicable data, including weight (if purchased live), for all swine purchased during the applicable reporting period, regardless of the expected delivery date of the swine, reported by—

(A)

hog class;

(B)

type of purchase; and

(C)

packer-owned swine.

(19)

Slaughter data

The term “slaughter data” means all of the applicable data for all swine slaughtered by a packer during the applicable reporting period, regardless of when the price of the swine was negotiated or otherwise determined, reported by—

(A)

hog class;

(B)

type of purchase; and

(C)

packer-owned swine.

(20)

Sow

The term “sow” means an adult female swine that has produced one or more litters.

(21)

Swine

The term “swine” means a porcine animal raised to be a feeder pig, raised for seedstock, or raised for slaughter.

(22)

Swine or pork market formula purchase

The term “swine or pork market formula purchase” means a purchase of swine by a packer in which the pricing mechanism is a formula price based on a market for swine, pork, or a pork product, other than a future or option for swine, pork, or a pork product.

(23)

Type of purchase

The term “type of purchase”, with respect to swine, means—

(A)

a negotiated purchase;

(B)

other market formula purchase;

(C)

a swine or pork market formula purchase;

(D)

a negotiated formula purchase; and

(E)

other purchase arrangement.

Aug. 14, 1946, ch. 966 Pub. L. 106–78, title IX, § 911(2)Oct. 22, 1999113 Stat. 1193 Pub. L. 109–296, § 2Oct. 5, 2006120 Stat. 1464 Pub. L. 114–54, title I, § 102(a)Sept. 30, 2015129 Stat. 513 (, title II, § 231, as added , , ; amended , , ; , , .)

Editorial Notes

Amendments

Pub. L. 114–54, § 102(a)(1)2015—Pars. (9) to (12). , (2), added par. (9) and redesignated former pars. (9) to (11) as (10) to (12), respectively. Former par. (12) redesignated (13).

Pub. L. 114–54, § 102(a)(3)Par. (12)(A). , inserted “negotiated formula purchase,” after “pork market formula purchase,”.

Pub. L. 114–54, § 102(a)(1)Pars. (13) to (23). , redesignated pars. (12) to (22) as (13) to (23), respectively.

Pub. L. 114–54, § 102(a)(4)Par. (23)(D), (E). , added subpar. (D) and redesignated former subpar. (D) as (E).

Pub. L. 109–296, § 2(a)2006—Par. (4). , reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘base market hog’ means a hog for which no discounts are subtracted from and no premiums are added to the base price.”

Pub. L. 109–296, § 2(b)Par. (5). , amended heading and text of par. (5) generally. Prior to amendment, text read as follows: “The term ‘bred female swine’ means any female swine, whether a sow or gilt, that has been mated or inseminated and is assumed, or has been confirmed, to be pregnant.”

Pub. L. 109–296, § 2(c)(1)Par. (12)(B). , added subpar. (B) and struck out former subpar. (B) which read as follows: “for any calendar year, the term includes only a swine processing plant that slaughtered an average of at least 100,000 swine per year during the immediately preceding 5 calendar years; and”.

Pub. L. 109–296, § 2(c)(2)Par. (12)(C). , inserted “or person” after “swine processing plant”, “plant capacity of the processing plant”, and “determining whether the processing plant”.