The term "wholesale pork" means fresh and frozen primals, sub-primals, cuts fabricated from sub-primals, pork trimmings, pork for processing, and variety meats (excluding portion-control cuts, cuts flavored above and beyond normal added ingredients that are used to enhance products, cured, smoked, cooked, and tray packed products).
The term "negotiated sale" means a sale by a packer selling wholesale pork to a buyer of wholesale pork under which the price is determined by seller-buyer interaction and agreement, and scheduled for delivery not later than 14 days for boxed product and 10 days for combo product after the date of agreement. The day after the seller-buyer agreement shall be considered day one for reporting delivery periods.
When used in reference to wholesale pork, the term "forward sale" means an agreement for the sale of pork where the delivery is beyond the timeframe of a "negotiated sale" and means a sale by a packer selling wholesale pork to a buyer of wholesale pork under which the price is determined by seller-buyer interaction agreement.
FORMULA MARKETING ARRANGEMENT
When used in reference to wholesale pork, the term "formula marketing arrangement" means an agreement for the sale of pork under which the price is established in reference to publicly-available quoted prices.
SPECIALTY PORK PRODUCT
The term "specialty pork product" means wholesale pork produced and marketed under any specialty program such as, but not limited to, genetically-selected pork, certified programs, or specialty selection programs for quality or breed characteristics.
The term "variety meats" with respect to wholesale pork means cut/processing floor items, such as neck bones, tails, skins, feet, hocks, jowls, and backfat.
When referring to wholesale pork, added ingredients are used to enhance the product's performance (e.g. tenderness, juiciness) through adding a solution or emulsion via an injection or immersion process. The ingredients shall be limited to water, salt, sodium, phosphate, antimicrobials, or any other similar combination of foresaid or similar ingredients and in accordance with established USDA regulations.
Packers will report a product's refrigeration type as either fresh or frozen as a means for distinguishing fresh product transactions that may be discounted or priced differently due to age of the product. Splitting the fresh category into two product age groups provides a means for identifying product that may be discounted due to potential shelf life limitations. For reporting purposes, "Day 1" is considered the day after production. Timeframe categories include: 0-6 days fresh combo, 7 or more days fresh combo, 0-10 days fresh box, 11 or more days fresh boxed, and frozen.
Packer will report a product's destination in one of three categories: Domestic, Export overseas, or North American Free Trade Agreement (NAFTA).
One load equals 40,000 pounds of product.
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 (e.g. F.O.B. Plant, F.O.B. Feedlot) or from a common basis point to the buyer (e.g. F.O.B. Omaha).