It is unlawful for a packer to enter into a contract to purchase cattle for slaughter using a formula or grid pricing mechanism if the packer fails to negotiate a base price prior to the cattle being committed or scheduled for slaughter.
Neb. Rev. Stat. § 54-2619
Sales of cattle; pricing mechanisms; restrictions
Laws 1999, LB 835, § 19.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.