Price paid for livestock after application of any premiums or discounts, expressed in dollars per hundred weight.[1]

Prices that reflect buyers’ and sellers’ opinions of current values (e.g., bids, offers, grade, and regional differentials, etc.) when there is limited trading of a commodity.  Ordinarily, published prices are based on three or more separate, actual spot transactions.  However, because of the practical uses made of pricing information by buyers and sellers, nominal prices are used to indicate where spot trades would occur.  If a reporter is unable to gather enough information for nominal prices, then prices are reported as too few to report (TFEWR).

See USDA standards.

Organic is a labeling term that indicates that the food or other agricultural product has been produced through USDA approved methods that integrate cultural, biological, and mechanical practices that foster cycling of resources, promote ecological balance, and conserve biodiversity.  Synthetic fertilizers, sewage sludge, irradiation, and genetic engineering may not be used.  To be labeled as “Organic,” food must be certified to USDA standards.

Livestock that a packer owns for at least 14 days immediately before slaughter.[1]

Comment used to denote cattle that were sold a per head basis, instead of being sold on a per cwt. basis.  Per head basis selling usually occurs when quoting replacement or bred females.

With regards to hay reporting, Per Point means that the price of hay is sold based on the protein level.  Instead of being sold per ton, for example, it is sold per protein point. This unit of measurement is most commonly used by dairies and exporters.

The direction in which prices are moving in relation to trading in the previous reporting period(s).  There are five types:

HIGHER – The majority of sales are at prices measurably higher than the previous trading session.

FIRM – Prices are tending higher, but not measurably so.

STEADY – Prices are unchanged from the previous trading session.

WEAK – Prices are tending lower, but not measurably so.

LOWER – Prices for most sales are measurably lower than the previous trading session.

Care will be exercised in using the terms "price" and "value."  The "prices" at which livestock or livestock products are sold are not necessarily their "value."  The terms are not synonymous and must not be used interchangeably.

Butter which is packaged in one-pound or smaller pieces.