### Question
How is the term formula marketing arrangement defined?


### Answer
The term **formula marketing arrangement** is defined in *7 U.S.C. § 1635d* as the following:

> the advance commitment of cattle for slaughter by any means other than through a negotiated purchase or a forward contract, using a method for calculating price in which the price is determined at a future date

#### Citation:
  - *7 U.S.C. § 1635d*
  - Heading: **CHAPTER 38-DISTRIBUTION AND MARKETING OF AGRICULTURAL PRODUCTS > SUBCHAPTER II-LIVESTOCK MANDATORY REPORTING > Part B-Cattle Reporting**

