### Question
How does LIVESTOCK MANDATORY REPORTING define basis level?


### Answer
Under *7 U.S.C. § 1635a*, **basis level** is defined as:

> the agreed-on adjustment to a future price to establish the final price paid for livestock

#### Citation:
  - *7 U.S.C. § 1635a*
  - Heading: **CHAPTER 38-DISTRIBUTION AND MARKETING OF AGRICULTURAL PRODUCTS > SUBCHAPTER II-LIVESTOCK MANDATORY REPORTING > Part A-Purpose; Definitions**

