Negotiated grid purchase.
Negotiated grid purchase. The term negotiated grid purchase in reference to cattle means the negotiation of a base price, from which premiums are added and discounts are subtracted, determined by seller-buyer interaction and agreement on a delivery day. The livestock are scheduled for delivery to the packer not more than 14 days after the date on which the livestock are committed to the packer.
7 CFR § 59.30
The following definitions apply to this part.