Base Price [Agricultural Marketing Service] Law and Legal Definition

According to 7 CFR 59.30 [Title 7—Agriculture; Subtitle B -- Regulations of the Department of Agriculture; Chapter I -- Agricultural Marketing Service H1 (Standards, Inspections, Marketing Practices), Department of Agriculture; Subchapter C -- Regulations and Standards Under the Agricultural Marketing Act of 1946 and the Egg Products Inspection Act - Part 59 -- Livestock Mandatory Reporting; Subpart A -- General Provisions], base price means “the price paid for livestock, delivered at the packing plant, before application of any premiums or discounts, expressed in dollars per hundred pounds of hot carcass weight.”