Cash or spot market purchase of swine by a packer from a producer where there is an agreement on base price and a delivery day not more than 14 days after the date on which the livestock are committed to the packer.
OTHER MARKET FORMULA PURCHASES
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. This includes formula purchases where the price formula is based on 1 or more futures or options contracts.
SWINE OR PORK MARKET FORMULA PURCHASES
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 any formula purchase with a floor, window, or ceiling price, or a futures or options contract for swine, pork, or pork product.
OTHER PURCHASE ARRANGEMENTS
Purchase of swine by a packer that is not a negotiated purchase, swine or pork market formula purchase, or other market formula purchase; and does not involve packer-owned swine. This would include long term contract agreements, fixed price contracts, cost of production formulas, formula purchases with a floor, window, or ceiling price.
Swine that a packer, including a subsidiary or affiliate of the packer, owns for at least 14 days immediately before slaughter.
Swine that are owned by a packer, including a subsidiary or affiliate of the packer, for more than 14 days immediately before sale for slaughter; and sold for slaughter to another packer.
The matrix displays low to high range of carcass values (per hundredweight) based on individual packer's premium and discount schedules for various back-fat and loin depth/area (10th rib) measurements. The values are calculated by applying individual packer's lean value premiums and discounts from their carcass merit buying programs to their negotiated base market hog carcass price.
CARCASS WEIGHT DIFFERENTIALS
The hot pork carcass weight discounts & premiums reported on a per hundredweight basis based on individual packer buying programs.
NON-CARCASS MERIT PREMIUM
An increase in the base price for swine offered by an individual packer based on any factor other than the lean or quality characteristics of the carcass as long as the actual amount of the premium is known before the sale and delivery of the swine. Examples of this include delivery timing, volume, transportation, and breed.
With regard to swine reports, includes Alabama, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Wisconsin.
With regard to swine reports, includes Iowa and Minnesota, plus South Dakota, Nebraska, Kansas, and Missouri.