![]() ![]() ![]() "FOB destination" means the seller retains the risk of loss until the goods reach the buyer.įutures : Derivative financial contracts that obligate the parties to transact an asset at a predetermined future date and price. "FOB origin" means the purchaser pays the shipping cost from the factory or warehouse and gains ownership of the goods as soon as it leaves its point of origin. For accounting purposes, the supplier should record a sale at the point of departure from its shipping dock. Definition can vary based on the species and whether the hide is removed or not.įarm gate sales : The direct sale of a product from the producer to the consumer, without going through a marketing board or grocery store.įeed efficiency : Ratio of feed required to produce a unit of weight gain.įeeder : An animal being fattened prior to slaughter.įree On Board (FOB) : Shipment term used to indicate whether the seller or buyer is liable for goods that are damaged or destroyed during shipping. The carcass is weighed warm as opposed to cold. The US carcass weight includes the weight of the kidney, pelvic and heart fat, which is not included in the Canadian carcass weight.ĭressed weight (carcass weight) : Weight of an animal after being bled and all the internal organs and oftentimes the head as well as inedible portions of the tail and legs have been removed. The dressing percentage of cattle marketed in Canada will differ from that of similar animals marketed in the United States. It is calculated by dividing the warm carcass weight by the shrunk live weight of the animal and expressing the result as a percentage. Compromised animals may be locally transported with special provisions to receive care, be euthanized or humanely slaughtered.Ĭulled : Animal that has been removed from a herd due to downsizing, behaviour, sickness, injury, undesirable genetics, or reproductive status.ĬWT(Hundredweight) : A unit of mass equal to 100 pounds.ĭressing percentage : The dressing percentage reflects the portion of a slaughtered animal that is usable meat. (A futures contract price is based on a legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future.)Ĭompromised animal : A compromised animal is an animal with reduced capacity to withstand transportation but where transportation with special provisions will not lead to undue suffering. It measures price change by comparing, through time, the cost of a fixed basket of goods and services.Ĭontract Price : the price for the goods or services to be received according to/based on conditions described in a contract. In Canada, a 5-point scale is commonly used (there is also a 9-point scale typically used in the United States.).īleeding out : Allowing the majority of an animal's blood to leave the body through a deliberate wound, usually the severing of the jugular vein and carotid artery in the neck.īranding : Creating a permanent mark on the skin of an animal for the purposes of identification.īreak-even price : Minimum sale price that will cover all expenses.Ĭaptive bolt : Hand-held device used when euthanizing livestock.Ĭarcass grade : There are two grading systems used for carcasses that relate to consumer acceptability (quality grade) and expected amount of meat that a carcass will produce (yield grade).Ĭash Price : The amount paid for commodities on the spot market.Ĭastrate : To remove the testicles or impede from a male animal.Ĭhicago Mercantile Exchange (CME) : The CME is a global marketplace based in Chicago that trade futures, and in most cases options, in the sectors of agriculture, energy, metals, real estate, and even weather.Ĭonsumer Price Index (CPI) : The Consumer Price Index (CPI) represents changes in prices as experienced by Canadian consumers. GeneralĪverage daily gain (ADG) : Amount of weight gained per day.īody condition score : A subjective score regarding the health and welfare, as well as the amount (or lack) of fat an animal has. This glossary is intended to assist in understanding commonly used terms and concepts when reading and interpreting data, but should not be considered as official definitions.
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