### Question
How does the law define formula price?


### Answer
Under *7 U.S.C. § 1635i*, **formula price** is defined as:

> a price determined by a mathematical formula under which the price established for a specified market serves as the basis for the formula

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

