(See also 'AuctionsPlus', 'saleyard', 'direct sale' and 'physical market').Ĭash settlement: In relation to the futures market, where settlement involves payment or receipt of the difference between the settlement price and the agreed future price.Ĭarcase weight: The weight of an animal's carcase. Carcase weight prices are calculated by the following formula:($/head value – skin value)/carcase weight.Ĭash market: The market where cattle/sheep/lambs are physically bought and sold. ![]() ![]() Also written as CandF.Ĭalf: A bovine no permanent incisor teeth, can be a male or a female with no secondary sex characteristics.ĬALM: Computer Aided Livestock Marketing (the previous name for AuctionsPlus).Ĭarcase: The body of an animal after being dressed (removal of head, feet, hide and internal organs)(See 'dressed').Ĭarcase price: Expression of the meat value of sheep and lambs after internal organs, head, feet and skin are removed. Units which cattle are sold in at a physical prime market.Ĭ&F: Cost and freight – refers to the quoted price for the goods, including freight to the delivery point, but not insurance. Buyers fall into two groups: commission (works for many different clients) or salary (works for one company only), eg processor, feedlot, restocker and backgrounder.īy-product: Product of considerably less value than the meat of the carcase, eg hide and offal. A mature male animal used for breeding.īull market: A market in which prices are in an upward trend.īuyer: Purchases stock at physical markets (prime and store). The primals (round, loins, ribs and chuck) and sub-primals are between the carcase cuts and retail cuts.īruising: Caused by live animal handling issues and negatively impacts on the value of the carcase.īull: A male bovine with sexual organs intact and that is capable of reproduction. This is a slow progressing degenerative and fatal disease affecting the central nervous system of adult cattle.īoxed beef: Cuts of beef put into boxes, for shipping from processor, to wholesalers or retailers. (In the case of a dairy cow, this generally happens when the calf is only a few days old so it doesn’t deplete the cow’s milk supply).īoning room: Area of an abattoir where the carcase is cut into smaller portions.īos indicus: The breeds of cattle that are referred to as tropical or humped breeds, eg Brahman, Sahiwal and other Zebu breeds.īos taurus: The temperate, British or European breeds of cattle, eg Angus, Poll Hereford, Charolais and Limousin.īovine: Animals of the ox family, commonly referred to as cattle.īSE: Bovine spongiform encephalopathy (also known as 'mad cow disease'). ![]() A bid on the futures market is the price at which participants can sell futures contracts.īobby calf: A calf that has been removed from its mother. (See 'weaner' and 'feedlot').īasis: The difference between the price on the physical market and the futures price.īasis risk: The risk that basis moves in an unexpected manner.īear market: A market in which prices are in a declining trend.īlue tag: A tail tag on a cow at a physical market (store or prime) that is in calf less than four months.īid: An indication to buy at a given price. Backgrounder: A cattle producer who produces young cattle ready for lot feeding.īackgrounding: Growing program for feeder cattle from the time calves are weaned until they enter a feedlot to be finished on a high protein ration.
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